FirstGroup PLC - Aberdeen-based transport company - Says, ahead of its annual general meeting on Friday afternoon, that its overall trading performance in the financial year to date ‘has been in line with the expectations we outlined at our full year results on [June 11]’. At the time it reported an annual pretax loss and decreased revenue for the year ended March 30, and predicted ‘progressive growth’ for FirstBus with ‘steady progression’ towards a 10% adjusted operating profit margin. Notes achievements in financial 2025 so far including contract to operate the IFS Cloud London Cable Car on behalf of Transport for London, and agreeing terms to sell the remaining liabilities of the legacy Greyhound US pension plan.
Also on Friday, Chair David Martin has announced that he intends to retire. Company does not specify the effective date. Martin became chair in August 2019 and has ‘successfully overseen a significant change of strategy amidst the challenging pandemic period, repositioning the Group to a leading public transport business with a strong balance sheet and delivering significant realisation of value for shareholders’, FirstGroup says.
Current stock price: 168.90 pence
12-month change: up 13%
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