FirstGroup plc (FGROY)
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FirstGroup to run new rail services to Wales and the southwest
FirstGroup PLC (LSE:FGP) has unveiled plans for privately-funded rail services to Wales and Devon just a day after the government confirmed it would renationalise its South Western railway franchise. Graham Sutherland, chief executive, said: "Growing our open access rail portfolio is a key priority for FirstGroup.
FirstGroup shares unmoved by franchise nationalisation
Labour has announced the first three railway companies to be nationalised as part of its plan to bring rail services into public ownership. South Western Railway will be nationalised in May, followed by c2c in July and Greater Anglia in the autumn, according to the Department for Transport (DfT).
FirstGroup boosted by buyback and forecast hike
Bus and train group FirstGroup PLC (LSE:FGP) rose 4% as it unveiled a new £50 million share buyback alongside an upgrade to full-year forecasts forecast for its full year. Graham Sutherland said the group expected bus margins to improve as it continues to expand its presence through bolt-on acquisitions while the growth of its privately-run UK open-access rail operations will help the rail arm beat expectations.
FirstGroup beefs up bus operations with Lakeside buy
FirstGroup PLC (LSE:FGP) has expanded its footprint in the contract private hire area with the acquisition of West Midlands-based Lakeside, which provides services to schools and other organisations through a fleet of 145 buses and coaches Operating under Lakeside Coaches, Merediths Coaches and AT Brown Coaches, Lakeside had a central, owned depot in Ellesmere, Shropshire and five smaller depots in Shrewsbury, Shropshire, Telford and South Cheshire. For the year ended 31 March 2024, Lakeside delivered revenues of £12.5 million and underlying profits [EBIT] of £2.5 million, most of which came from schools, B2B and a small contract bus operation.
FirstGroup swoops for Heathrow coach operator
FirstGroup PLC (LSE:FGP) has acquired London-based coach firm Anderson Travel to strengthen its First Bus division. The purchase, for an undisclosed amount, includes around 40 coaches operating in central London and Heathrow Airport, covering school transport, private hire, mini coach services, and tours.
FirstGroup slides to a loss; suffers hit from pension scheme exit
FirstGroup PLC (LSE:FGP), the rail transport group, posted a statutory loss before tax of £24.4 million this morning, mainly due to it suffering a £146.9 million hit related to the termination of its participation in two Local Government Pension Schemes. First Bus revenue increased to more than £1 billion from £902.5 million in 2023, driven by higher passenger volumes, while operating profit rose to £83.6 million, up from £58.4 million the previous year.
FirstGroup to launch new London to Manchester low cost rail link
Firstgroup has applied to start a second service for its low-cost rail arm Lumo, this time from London to Manchester. Lumo already runs a service from London's King Cross to Edinburgh via Newcastle and now wants to operate a similar operation between Euston and Rochdale via Manchester Victoria.
