May 22, 2020 / 6:24 AM / 12 days ago

Go-Ahead Group warns coronavirus will hit profit

LONDON, May 22 (Reuters) - Britain’s Go-Ahead Group warned that the impact of the novel coronavirus would hit its profits this year, as it said it was in a strong position in the long-term given the secured revenues on some of its transport contracts.

Go-Ahead, which operates the GTR rail network in London and south east England and London buses, forecast that group operating profit for the year ended 27 June would be in the range of 63 million pounds ($76.91 million) to 75 million pounds.

That would represent at least a 38% fall compared to the 121 million pounds it made in the previous 12 months.

$1 = 0.8191 pounds Reporting by Sarah Young; editing by Kate Holton

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