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Rail operator sees shares tumble after Southern Rail strikes

by February 28, 2017

written by 28^th Feb 17 10:47 am

Take a look at the figures

The shares in the rail operator behind Southern Rail have dropped significantly due to strike action from the franchise.

Go-Ahead, which is the majority owner of Southern parent company Govia Thameslink Railway (GTR), fell by 14 per cent after it published half year results.

Earnings from its rail arm fell by a massive 35 per cent to £27m, group pre-tax profits fell by 12 per cent to £67m for the six months to the end of December.

The company said: “Overall group performance has been significantly impacted by a reduction in rail profitability due to losses from our GTR franchise, as a result of ongoing industrial action on Southern,”

Southern have been involved in a dispute with unions over driver-only trains.

Go-Ahead apologised to the hundreds of thousands of customers affected by the dispute who had suffered “months of severe disruption and inconvenience”.

Some had reportedly lost their jobs due to being unable to get into work.

GTR passenger journeys fell by 3.4 per cent, passenger revenues fell by 6.4 per cent.