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We are pleased to report a set of strong results for the Group, in line with our expectations reported in June 2011.

Highlights

• Operating profit up 14% to £115.1 million
• Continued strong cash management and robust balance sheet
• Total dividend for the year maintained at 81.0 pence per share
• Passenger revenue growth in bus and rail divisions
• Further evidence of consumers switching from cars to public transport
• New financial year started well and trading in line with the Board’s expectations

* Before amortisation and exceptional items
** Restated to exclude discontinued operations
^# Includes interim dividend paid and final dividend proposed

Commenting on Go-Ahead’s results, Chairman, Sir Patrick Brown, said:
I am pleased with the performance of the Group this year. Despite facing challenging economic conditions in the last 12 months and the adverse weather in the first half of the year, all of our operations have seen growth in like-for-like passenger revenue and passenger journeys.

Our bus and rail operations remain fundamentally strong and have benefited from passengers leaving their cars at home and choosing better value public transport alternatives.

Our outlook for the next financial year has not changed since our trading update in June 2011. We are assuming that the broad underlying operating trends experienced in the financial year will continue throughout the financial year to 30 June 2012 and that around £13m of the rail contract management benefits achieved in 2011 will not recur.

In bus, we anticipate that the performance of the business will remain strong despite the reduction in the Bus Service Operators Grant (BSOG) in April 2012 which will impact on the last quarter of the next financial year. Our fuel requirements are fully hedged for the next year at 41p per litre, in line with the cost in the financial year just ended. In rail, we will continue to drive revenue and control costs to help offset the challenges of reduced subsidies/increased premia in our franchises.

Our balance sheet, cash flow and financing are strong and we continue to view the maintenance of the dividend as a priority.

We have started the new financial year well and trading has been in line with the Board’s expectations.

Full Year Results 2011 (PDF)

For further information, please contact:

David Brown, Group Chief Executive and Keith Down, Group Finance Director will be hosting a presentation for analysts at 9.00am today (1 September 2011) at Investec, 2 Gresham Street, London EC2V 7QP,
Tel: +44 (0) 20 7597 5970

A live audio webcast will be available for analysts to listen to the presentation from Go-Ahead’s website –
www.go-ahead.com. The presentation slides will be added to Go-Ahead’s website (www.go-ahead.com) at around 7:30am today and a PDF copy of the Group’s Annual Report and Accounts for the year ended 2 July 2011 will also be available to download from the website today.

Notes to Editors

Go-Ahead

Go-Ahead is a leading UK public transport operator, providing high quality services in the bus and rail sectors. Employing over 22,000 people across the country, over one billion passenger journeys are undertaken on our services each year. We are committed to operating our companies in a safe, socially and environmentally responsible way and are proud to have been awarded the Carbon Trust Standard after taking action on climate change. In addition to the travelling public, our customers include the Department for Transport, Transport for London (TfL) and local authorities.

BUS

Go-Ahead is one of the UK’s largest bus operators. With a fleet of around 3,800 buses, we carry, on average, around 1.7 million passengers every day. Our operations are focused on high density commuter markets. We have a strong presence in London, with around 21% market share, where we provide regulated services for TfL. We operate deregulated services in Oxford, East Anglia, south east, southern and north east England. We also have a yellow school bus joint venture in North America.

RAIL

The rail operation, Govia, is 65% owned by Go-Ahead and 35% by Keolis. It is the busiest rail operation in the UK, responsible for around 30% of all UK passenger rail journeys through its three rail franchises: Southern (which includes Gatwick Express), Southeastern and London Midland.

Legal disclaimer

Certain statements included in this press release contain forward-looking information concerning the Group’s strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the sectors or markets in which the Group operates. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which are within the Company’s control or can be produced by the Company. Although the Company believes that the expectations reflected in such forward–looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from those set out in the forward-looking statements. Nothing in this press release should be construed as a profit forecast and no part of these results constitutes, or shall be taken to constitute, an invitation or inducement to invest in The Go-Ahead Group plc or any other entity, and must not be relied upon in any way in connection with any investment decision. Except as required by law, the Company undertakes no obligation to update any forward-looking statement.