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Hard times for bus industry – O’Toole

BUSES

09 June 2017
 

The UK’s bus industry faces an “uphill struggle” because of rising costs and falling patronage, FirstGroup chief executive Tim O’Toole has said.

Results for FirstGroup’s UK bus division in 2016/17 reveal revenues dropped from £870.9m (2015/16) to £861.7m; operating profit fell from £52m to £37m; and the operating margin reduced from 6.0% to 4.3%. 

FirstGroup launched a transformation plan for the bus business in 2014 with the aim of...

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