Ahead Group CEO Christian Schreyer announced a new business strategy. Credit: Go Ahead.

UK-based passenger transport company Go-Ahead Group is set to restore its pre-Covid-19 policy from this fiscal year, as part of its new business strategy called ‘The Next Billion Journeys’.

The company also announced plans for the expansion of its operations after the conclusion of a months-long business review.

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As part of the new strategy, the group will turn around underperforming operating entities and increase its presence in existing markets.

It will also evaluate options for acquisitions as well as focus on new urban mass transit modes such as metro and light rail.

This year, the firm intends to distribute 50-75% of underlying earnings per share as dividends to shareholders.

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Additionally, the firm aims to achieve an operating profit of at least £150m and increase its annual revenue to around £4bn in the medium term.

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Go-Ahead Group CEO Christian Schreyer said: “This is an exciting moment for Go-Ahead. My review of the business has found fundamental strengths, and has identified areas where we can deliver improvements and sustainable growth.

“We plan to strengthen, digitalise and decarbonise our operations, delivering greater profitability and stronger returns to investors alongside improvements for our customers and communities.”

Go-Ahead unveiled its new strategy following a £23.5m fine by the Department for Transport (DfT) last month.

The fine was imposed after the company accepted financial inaccuracies by its London and Southeastern railway franchise, LSER, which overcharged the country’s transport department in contracts for many years.

Last year in May, Go-Ahead unveiled blueprints for adaptable train interiors to meet the demand of passengers.