JONATHAN JACKSON | KILLIK & CO
"The stock currently trades at an undemanding 8.9 times March 2011 earnings. We believe this is too low for a company that offers both recovery potential and outsourcing opportunities. We remain buyers."
MANOJ LADWA | ETX CAPITAL
"First Group’s set of numbers would be even more impressive if it was not for the rising price of crude oil, which has impacted on even those companies that have managed to increase sales and profits."
DAVID BUICK | BGC PARTNERS
"This is an entirely satisfactory set of results but transport firms like First Group are a barometer for the economy. It is hugely reliant on local government and it will take time to get its fleet back up to speed."