FirstGroup (FGP)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

116.40p
   
  • Change Today:
    -0.60p
  • 52 Week High: 137.50
  • 52 Week Low: 79.30
  • Currency: UK Pounds
  • Shares Issued: 1,215.26m
  • Volume: 2,043,915
  • Market Cap: £1,414.56m
  • RiskGrade: 261
  • Beta: 0.57

FirstGroup losses widen, Greyhound sale process 'well advanced'

By Michele Maatouk

Date: Thursday 14 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Shares in FirstGroup tumbled on Thursday after the transport operator said losses widened significantly in the first half and that the formal sale process for its Greyhound business was "well advanced".
In the six months to the end of September, pre-tax losses widened to £187.1m from £4.6m in the first half of last year, on revenue of £3.5bn, up from £3.3bn.

The company incurred an impairment charge of £124.4m for the US coach business, Greyhound, a North American self-insurance reserve charge of £59.3m and restructuring and reorganisation costs of £15.4m.

Chief executive Matthey Gregory said: "In the first half we continued to execute the clear commercial strategies in each of our divisions to ensure they deliver future progress and growth. In particular, we were pleased to have delivered another strong bid season and two complementary acquisitions in our largest business First Student, as well as the award of the West Coast Partnership to our rail venture with Trenitalia.

"We are, however, disappointed with the further deterioration in the US motor claims environment which has required an increase in insurance costs for our North American businesses. As ever, first half trading mainly reflects the highly seasonal nature of the group's operations, given the timing of the North American school holidays in our First Student business. Based on current trends and underpinned by our activities to reduce the cost base further, we are confident in delivering our trading expectations for the full year."

FirstGroup, which announced in May that it was looking to sell Greyhound, said it was engaged in ongoing discussions with bidders and that the formal sale process was "well advanced".

At 0905 GMT, the shares were down 16% at 108p.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

FirstGroup Market Data

Currency UK Pounds
Share Price 116.40p
Change Today -0.60p
% Change -0.51 %
52 Week High 137.50
52 Week Low 79.30
Volume 2,043,915
Shares Issued 1,215.26m
Market Cap £1,414.56m
Beta 0.57
RiskGrade 261

FirstGroup Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
11.41% above the market average11.41% above the market average11.41% above the market average11.41% above the market average11.41% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Price Trend
72.22% above the market average72.22% above the market average72.22% above the market average72.22% above the market average72.22% above the market average
64.38% above the sector average64.38% above the sector average64.38% above the sector average64.38% above the sector average64.38% above the sector average
Income Not Available
Growth
13.10% above the market average13.10% above the market average13.10% above the market average13.10% above the market average13.10% above the market average
38.03% above the sector average38.03% above the sector average38.03% above the sector average38.03% above the sector average38.03% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 2
Sell 0
Strong Sell 1
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FirstGroup Dividends

No dividends found

Trades for 09-Dec-2019

Time Volume / Share Price
16:38 141 @ 116.40p
16:35 3,271 @ 116.40p
16:35 12,545 @ 116.40p
16:35 177 @ 116.40p
16:35 7 @ 116.40p

FirstGroup Key Personnel

CEO Matthew Gregory
CFO Ryan Mangold
Chair David Martin

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