Go-Ahead leads the level peggers
GO AHEAD leads this year’s 17 level peggers in the Top 250, retaining fourth position. Despite the loss of some 600,000 jobs in the City affecting the group’s commuter receipts – and a cut of more than 750 in its own workforce – Go Ahead remains optimistic, saying main rail business is robust and showed a rise within the £3.5m climb in first half rail operating profits recently.
Like-for-like rail passenger revenues rose 9.9% for its Southeastern and Southern lines, the latter including Gatwick Express. It also operates London Midland.
On its 3,400 buses, Go Ahead covers routes in the North East, Brighton and Oxford, and expects to continue doing well here despite a hit from rising fuel costs earlier.
Its ground-based aviation business, however, which it put up for sale, has been losing and is being restructured.
Go Ahead, which evolved into multi- communication from a bus privatisation in Newcastle in the 1980s still has its registered headquarters in Grey Street, Newcastle.
In April it was confident of hitting full-year profit targets. Go Ahead has retained the Southern rail franchise for five years plus in the latest bidding but had to pledge up to £400m more than rivals Stagecoach, Dutch rail operator NedRailways and National Express.
Huntsman keeps petrochemicals well up the table retaining fifth place, and Southern Cross with its care homes for elderly and disabled people, stays eighth.
Its 700 homes give it an 8% share of the market, with about 70% of turnover coming from local authorities. In May it announced a 6.9% increase in revenue to £460.8m for six months
At Northumbrian Water, managing director John Cuthbert keeps the group in 11th place and in good shape for his successor when he himself retires soon after more than 20 years in the industry.
The group plans to invest more than £70m in renewable power plants in the region to generate 20% of its own power by 2013.
John Cuthbert has been MD for eight years, and the group has 2.6m customers in the North East alone. Lower demand from recession-hit businesses has led to a 10% drop in annual profits, but the outlook generally is considered strong.
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