Turnaround on the way at First

Marion Dakers
BUS and rail operator FirstGroup stressed yesterday that its efforts to turn around the company were on track following last year’s financial turbulence.

The firm, which was forced to defend its credit rating with a £615m rights issue last year, said changes within its UK bus business and its Greyhound arm in the US had created “good growth” in the past three months. First’s annual meeting will take place next week.