Revenues move up at FirstGroup
BUS AND rail company FirstGroup chugged ahead with a positive trading update for 2015, despite a volatile 12 months, pushing shares up by 6.82 per cent, .
The company’s financial year ending 31 March saw the loss of several rail contracts for which it bid. The firm’s top brass also suffered from instability, cycling through three chairs in 18 months. Growth in the UK and the US, however, helped the group overcome these difficulties.
The UK bus division saw 1.1 per cent passenger volume growth over 2014, driving yearly revenue up by 2.3 per cent. Meanwhile, revenue for UK rail made a 6.6 per cent gain on the previous year.
In the US, the First Student arm posted a 1.3 per cent rise in revenue, while revenue for First Transit increased by 5.5 per cent.
Lewis Sturdy of London Capital Group said: “The UK bus and rail company has had a bumpy ride of late. However, the wheels are slowly turning in the right direction.”