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Go-Ahead Group – franchise loss due to money not declared… but CFO “decided to resign”?!

On 10th June Go-Ahead Group (GOG), one of the UK's largest bus and train operators, made a trading update including that its full year results were scheduled for 9th September. In late August this was changed to 30th September, stated as “reflects ongoing discussions with the Department for Transport regarding the historic calculation of the Southeastern profit share over a number of years… and related additional matters”. Now an announcement including that the results announcement “has been postponed. A revised announcement date will be confirmed in due course”. Two delays and now no date scheduled doesn’t bode well...

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