Transport group Go-Ahead is finally set to release its financial results this week, after delaying publication three times amid a rail franchise scandal.
The Newcastle headquartered rail and bus group 鈥 the North East鈥檚 third largest company by turnover 鈥 admitted last September that it had not declared 拢25m of funding in conjunction with the London & South Eastern Railway (LSER) contract.
The firm employs around 30,000 people running bus and rail services in the 海角视频 and abroad.
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Its Govia joint-venture, in which it has a two-thirds share, was stripped of the LSER contract and it is facing a fine from the Government.
The Department for Transport (DfT) stripped Go-Ahead of the busy LSER route, which covers South East England, including London, Kent and East Sussex, in October and the company鈥檚 chief financial officer, Elodie Brian, resigned after the decision was announced.
Go-Ahead鈥檚 shares have been suspended since January after auditor Deloitte said it needed more time to finalise the financial results for the company.
Results were initially pushed back to January 3 and then to the end of the month, followed by a third delay pledging publication 鈥渂efore the end of February鈥.
Now, however, the company has told shareholders: 鈥淭he Go-Ahead Group announces that it intends to publish its full year results for the year ended 3 July 2021 on February 24.
鈥淭rading in Go-Ahead鈥檚 shares and corporate bond is currently suspended.
鈥淥n publication of its full year results for the year ended 3 July 2021, the Board intends to apply to the FCA for the restoration of the listing and trading in the Group鈥檚 shares and corporate bonds.鈥
The company, which had run the LSER contract as part of a joint venture with French group Keolis, has apologised for its action and said that it expects to be fined over the issue, although as there is no specific precedent for such matters the amount is unclear.
