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Go-Ahead falls despite like-for-like growth [Newcastle Journal (England)](Newcastle Journal (England) Via Acquire Media NewsEdge) THE FTSE 100 Index moved higher for a third consecutive day in a row by 24.1 points to close at 5418.7. In the North Index, bus and rail business Go-Ahead Group released its full year figures to the market. The group confirmed that despite the difficult operating environment, the bus and rail operations recorded steady progress. Chairman Sir Patrick Brown said: "Despite facing challenging economic conditions in the last 12 months and the adverse weather in the first half of the year, all our operations have seen growth in like for like passenger revenue and passenger journeys. Our bus and rail operations remain strong and have benefited from passengers leaving their cars at home and choosing better value public transport alternatives." Go-Ahead Group stated the government continues to support public transport and noted the forthcoming release of the McNulty Report on rail franchising. The shares moved lower over the day by 87p to close at 1496p. Elsewhere, automotive retailer Vertu Motors released a trading update, noting the market remains challenging and unpredictable. However the business is trading in line with forecasts. In addition, Vertu motors also confirmed the purchase of Widnes Car Centre, which increases the number of Nissan dealerships operated by the group to four. The group confirmed that it will announce its half year numbers on October 19. Vertu Motors' share price finished the day unchanged at 27.125p. Electronic manufacturing and power supply business Stadium Group announced the appointment of Stephen Phipson CBE to the position of Chief Executive Officer. The shares moved higher by 2p to close at 66.5p. Brewin Dolphin acts as broker to Stadium Group. [email protected] (c) 2011 ProQuest Information and Learning Company; All Rights Reserved. |