First Group hit by US weather

Julian Harris
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BUS AND rail company First Group was dealt a £14m blow in the first quarter of 2014 due to extreme freezing weather conditions in the US, the firm said yesterday.

Its American arms First Student and Greyhound were affected, with annual revenues expected to be down by 1.8 per cent and 2.9 per cent respectively. But boss Tim O’Toole said he still pledged to deliver earnings growth this year. Performance in Britain has been strong, with like-for-like passenger revenue growth of 1.8 per cent expected for its UK bus business, while UK rail’s like-for-like passenger revenue is predicted to expand by 5.9 per cent, the firm said.

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