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FirstGroup reports a loss after pension scheme exit but bus revenue grows

Peter Stonham
19 June 2024
 

FirstGroup PLC, the UK’s biggest bus and rail operator, posted a statutory loss before tax of £24.4 million in its latest financial year, mainly due to a £146.9 million hit related to the termination of its participation in two Local Government pension schemes. It nonetheless reported an adjusted profit up 40% and proposes a final dividend of 4.0p per share, bringing the total annual dividend to 5.5p per share, a 45% increase from the previous year’s 3.8p.

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