FirstGroup profits on the rise thanks to bus sector

 

Leading transport operator FirstGroup has announced a 13% rise in profits, buoyed by improvements in its US and UK bus services.

The Aberdeen-based company has reported a 13.3% rise in full year operating profits to £303.6m for the 12 months to 31 March, with an improved performance from its First Student and UK bus businesses and new contract wins in America.

As a result shares in the transport group are up around 5% to 125p, this is despite some tough losses in its rail sector. Although reported revenue fell 9.9% to £6.05bn, but underlying revenue was up 4.1%.

In a statement the operator said: ‘We currently anticipate strong progression in our non-rail businesses, driven mainly by the ongoing turnarounds of First Student and UK Bus, to largely offset the substantially lower contribution from UK Rail as a result of the end of the First ScotRail and First Capital Connect franchises.’

The bus operations are also set to benefit from a recently announced £77.7m investment in 385 new buses.

The firm is in the middle of a multi-year turnaround programme to raise financial returns.

Chief executive Tim O'Toole said: ‘Overall trading for the year is in line with our expectations and our transformation plan is beginning to deliver improving financial performance, though clearly much hard work remains ahead of us.

‘We intend to deliver further progress from our multi-year transformation plans in our 2015/16 financial year. We currently anticipate strong progression in our non-rail businesses, driven mainly by the ongoing turnarounds of First Student and UK Bus, to largely offset the substantially lower contribution from UK Rail as a result of the end of the First ScotRail and First Capital Connect franchises.’

He added: ‘We were awarded a contract to operate First Great Western for up to four-and-a-half more years, and will continue to work closely with the Department for Transport and Network Rail to deliver the £7.5bn Great Western Mainline modernisation programme to at least March 2019. ‘We have also signed an agreement to run First TransPennine Express through to 1 April 2016, and recently submitted our bid to operate the franchise beyond that date.’

FirstGroup also announced that group finance director Chris Surch had decided to retire from the company in January next year ‘for personal reasons’.

 
comments powered by Disqus
 
 
highways jobs

Lead Engineer [Development]

Knowsley Metropolitan Borough Council
£40,760 - £41,675 per annum
Looking for an exciting new opportunity? Join us in Knowsley’s Major Development Team! Knowsley (Metropolitan borough), Merseyside
Recuriter: Knowsley Metropolitan Borough Council

Principal Engineer [Development]

Knowsley Metropolitan Borough Council
£34,788 - £35,934 per annum
Looking for an exciting new opportunity? Join us in Knowsley’s Major Development Team! Knowsley (Metropolitan borough), Merseyside
Recuriter: Knowsley Metropolitan Borough Council

Director of Neighbourhoods

Havering London Borough Council
c.£138,000
As Director of Neighbourhoods, you will provide strategic leadership for a full range of regulatory and non-regulatory services Romford, London (Greater)
Recuriter: Havering London Borough Council

Director of Economic Development & Planning

Wiltshire Council
£99,856 - £110,084 per annum
In this role you will have a key role in growing the local economy Wiltshire
Recuriter: Wiltshire Council

Executive Officer

London Borough of Richmond upon Thames and London Borough of Wandsworth
£24,660 - £31,764
A new opportunity has arisen for an Executive Officer to join The Environment and Community Services Directorate Richmond upon Thames, London (Greater)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Director, Governance and Improvement

City of York Council
£87,623 to £97,149
We are looking for an exceptional individual to be appointed to the position of Director of Governance and Improvement. York, North Yorkshire
Recuriter: City of York Council

Chief Fire Officer

West Sussex County Council
Competitive Salary plus Financial Support for Recruitment and Retention
We are looking for an exceptional individual who can lead our Fire & Rescue Service Chichester, West Sussex
Recuriter: West Sussex County Council

Inspector / Senior Inspector

City of Bradford MDC
£21,166 - £31,371 pa
This is an opportunity to join the Highway Maintenance team who have responsibility for maintenance of around 2,000km of adopted road network. Bradford, West Yorkshire
Recuriter: City of Bradford MDC

Traffic Management Operative/Foreman

Balfour Beatty
Competitive
Are you a Traffic Management Operative/Foreman with Highspeed (12AB) Qualifications, looking for a new and exciting opportunity? If so read on..... Leatherhead, Surrey
Recuriter: Balfour Beatty

Senior Team Leader

Redbridge London Borough Council
£35,992 to £38,994 per annum inclusive
Looking for individuals with initiative, evidence of experience in managing a street cleansing service and motivating... Redbridge, London (Greater)
Recuriter: Redbridge London Borough Council

Road Safety Engineer

Cambridgeshire County Council
£21,589 - £31,371
We are looking for a candidate who can participate in developing and delivering technically sound highway engineering solutions. Cambridgeshire
Recuriter: Cambridgeshire County Council

Information Management Officer x 2 Jobs

Kirklees Metropolitan Council
£24,799 - £26,317
Looking for better and smarter ways to operate and you will play a key role working across a broad range of service... Kirklees, West Yorkshire
Recuriter: Kirklees Metropolitan Council

Graduate Engineer

Sandwell Metropolitan Borough Council
£24,313 - £28,785 per annum
This is an exciting new opportunity in the Highway Services team to play a pivotal role in creating a safe and... Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

School Crossing Patrol

Brent Council
£21,591 - £22,377 p.a. inc. pro rata.
Looking for someone that is friendly, has great communication skills and enjoys working with children. Wembley, London (Greater)
Recuriter: Brent Council

Engineer (Highway Design)

Darlington Borough Council
£31,371 - £33,799
Looking to employ an experienced person within the Highway Design team to meet the challenge of enabling development... Darlington, Durham
Recuriter: Darlington Borough Council

Project Manager – Major Maintenance and Infrastructure Projects 

Liverpool City Council
£42,683 - £47,491 
The successful candidate will ensure that effective procurement and delivery of highways maintenance and improvement. Liverpool, Merseyside
Recuriter: Liverpool City Council

Green Space Development Manager

Camden London Borough Council
£45,504 - £52,786
The successful candidate will join a dynamic, multi-disciplinary team and contribute to our commitment to deliver for... Camden, London (Greater)
Recuriter: Camden London Borough Council

Green Space Project Officer

Camden London Borough Council
£40,829 - £47,360
The successful candidate will join a dynamic, multi-disciplinary team and contribute to our commitment to deliver for the people of Camden, London (Greater)
Recuriter: Camden London Borough Council

Senior Principal Planning Officer - Fixed Term

Royal Borough of Greenwich
£39.774 - £42.684
Looking for key members of the team that will be instrumental in transforming the Borough and opportunities available for residents.  Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Career Grade Planner

Royal Borough of Greenwich
£27228 - £36711
In this role you will deal primarily with small-scale planning applications covering a wide range of planning issues. Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich