Go-Ahead chief executive David Brown said the operator performed well last year despite below forecast levels of growth.
Although the operator, which runs services in the South East and London, recorded growth in all franchises, the company’s operating profit fell from £115 million to £110 million.
David Brown, Go-Ahead chief executive, said: “Over the last year, Go-Ahead has made significant progress in building a stronger Group and delivering on our strategic goals. Most recently, I am really proud of the key role our staff played in helping to deliver a highly successful transport network for the London 2012 Olympic Games.
“Against a challenging economic backdrop, we have continued to drive growth across our bus and rail companies and carried a record number of passengers on our services.
“Overall, the Group’s rail division performed well during the period, with strong operational performance across all three franchises and good passenger revenue growth, particularly in London Midland. Southern has started to be impacted by the economic environment, as the bid model assumed stronger economic growth rates than are currently being experienced.
“Our three rail franchises carry almost a third of all rail passengers in England. We have significant experience of successfully managing complex commuter franchises and delivering industry leading projects and will be using this expertise to deliver a strong bid for the new Thameslink franchise.”