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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