FirstGroup Plc (FGP.L,FGROF.PK,FGROY.PK) said the Group's overall trading for the year ended March 31, 2013 is in line with management's view. In addition, the company announced the sale of five of its London depots to Metroline, an existing London bus operator, as well as three of its London depots to Transit Systems Group, an Australian transport company, for a combined consideration of around 80 million pounds.
As indicated earlier, the board held the interim dividend at the prior year's level, following the uncertainty caused by the DfT's decision to delay rail re-franchising, and would consider the annual dividend in May 2013.
Further, the company reported that the recovery programmes in First Student and UK Bus were on track. Greyhound is witnessing some effects from continuing softness in the US economy, with like-for-like revenue for the period expected to increase by 1.1%. During the period, UK Bus business achieved steady growth with like-for-like passenger revenue projected to grow by 2.4%.
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