Thameslink Railway company faces financial losses prior to Elizabeth Line's assumed control.
Britain's Go-Ahead Group Loses Steam on Thameslink and Gatwick Express
It seems the operator of London's Thameslink and Gatwick Express has hit a rough patch, with a shocking pre-tax loss of £36.9m for 2024. This dismal figure contrasts starkly with the £9.7m profit they earned in the previous 15 months.
However, there's a silver lining. The Group managed to turn a profit after tax of $3.1m, marking an improvement from the previous year's loss of $13.1m. Interestingly, this pre-tax loss does not account for profits from disposals.
The Newcastle-based company, now owned by Kinetic Group and Globalvia, formerly listed on the London Stock Exchange, has not been shy about its ventures. They also run the Southern rail service across the UK and numerous local bus routes.
In a significant move, they took over the operation of the Elizabeth Line starting May 2025, following the seven-year contract handed to them by Transport for London back in November 2024. The service is run through a joint venture with Tokyo Metro and Sumitomo Corporation.
A glance at the new accounts filed with Companies House indicates a total revenue of £3.5bn in 2024, a dip from the £3.7bn they made in the previous period. Their passenger revenue for 2024 stood at £2bn, while their contract revenue was £1.2bn, complemented by a franchise subsidy of £8.6m. In contrast, their passenger revenue in the previous period was £2.1bn, their contract revenue totaled £1bn, and they received a franchise subsidy of £311.5m.
The Group's revenue from bus operations was £1.5bn in 2024 and £2bn from rail operations. Compared to the previous period, their bus operations revenue was £1.6bn, and their rail operations revenue totaled £2.1bn.
Initially founded in 1987 as part of the National Bus Company's privatization, the Go-Ahead Group floated on the London Stock Exchange in 1994. The Group now extends its operations to Ireland, Australia, Sweden, Singapore, and Norway, aside from the UK.
Sources for further financial information on the Go-Ahead Group might include checking their official website, investing platforms like Investing.com, or reputable financial news outlets for updates on the company's performance. [1]
- Despite the pre-tax loss on Thameslink and Gatwick Express, Go-Ahead Group managed to secure a profit after tax, showing resilience in the transportation industry, especially in the face of financial market fluctuations.
- Aside from London's public-transit services, Go-Ahead Group also operates the Southern rail service and numerous local bus routes, expanding their business portfolio in the transportation sector.
- The Group's journey towards global expansion is evident, with their operations extending to several countries, such as Ireland, Australia, Sweden, Singapore, and Norway, demonstrating their active involvement and growth in the finance and business sector.
