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FirstGroup to take more costs out of struggling bus business

PUBLIC TRANSPORT

Andrew Forster
09 June 2017
 

Firstgroup is to make further cost reductions in its UK bus business in response to difficult trading conditions.

First’s full year results for 2016/17 show that UK Bus revenues fell from £870.9m (2015/16) to £861.7m. Operating profit dropped from £52m to £37m and operating margin fell from 6.0% to 4.3%.

FirstGroup said there were “continued demand challenges  across the [bus] industry”.

“Market conditions for the industry remain challenged...

+90% more

 

 
 
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