FirstGroup has faced a difficult couple of years, but its focus on transforming UK bus and rail operations is starting to pay off.
Why it's interesting
What FirstGroup said
Overall trading for the year is in line with our expectations and we continue to make progress with our multi-year transformation plans, which will improve the Group's financial performance and ensure we deliver sustainable value creation in the medium term.In early March we were pleased to announce that Wolfhart Hauser will join the Board of FirstGroup in May, and will become chairman following our AGM in July. Wolfhart has an exemplary track record of sustained value creation and his experience and counsel will be invaluable as we drive forward the transformation of the group.
FirstGroup seemed to be slipping off the tracks for some time, but its transformation process has set it off in the right direction in recent months.