The recent going concern commentary in First Group's final results has put the U.K. transport sector into the spotlight again. One of its closely watched peers is Go-Ahead Group (GHGUY).
Down by around two-thirds this year, Go-Ahead is suffering from the perception that transport volumes are much weaker due to COVID-19 and lockdown. But with a large contract-based business, less contingent on actual volumes and some international exposure, I think these concerns are overdone. It has suspended its dividend, but if it restores it at its prior level, today's share price equates to a near-14%