Go-Ahead’s bidder weighs options following group’s optimistic outlook
Australian tour operator Kelsian said it was still weighing its options over the possible takeover of Go-Ahead as the transport powerhouse remained optimistic following a surge in passengers.
Kelsian, which has until 1 August to make a firm offer, is going up against the £647.7m offer made by an Australian-Spanish consortium.
The consortium – made of Australian bus operator Kinetic and Spanish infrastructure group Globalvia – told City A.M. last month it was not afraid of a bidding war with the tour operator.
Kelsian’s announcement comes on the heels of Go-Ahead’s optimistic outlook for 2022.
Even though it didn’t provide figures for the year ended 2 July, the group said it was expecting its regional bus division to deliver an operating profit before exceptional items higher than the previous two years.
The division’s volumes have gone up to over 85 per cent of pre-Covid levels, increasing significantly over the last few weeks especially in cities such as Manchester.
Other departments such as Rail are expected to remain in line with predicted profitability levels, of between £25m and £30m.
“We are encouraged to see so many people using buses and trains and we expect a busy summer ahead, particularly in tourist areas,” said chief executive Christian Schreyer.