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FirstGroup Trading To Date In Line With View; Maintains FY21 Forecast

FirstGroup plc (FGROY.PK,FGROF.PK,FGP.L), a provider of transport services in the UK and North America, said Monday that its overall trading performance year to date has been in line. The company also maintained management's expectations for the current financial year 2021.

In its trading update ahead of its Annual General Meeting today, the company said First Bus passenger volumes reached 65% of pre-pandemic levels on average in recent weeks. This is expected to increase further as the autumn terms for schools and then universities get fully underway.

Passenger mileage in non-core Greyhound operation has been just over half of pre-pandemic levels in recent weeks.

Further, as previously announced, Chief Executive Matthew Gregory and Non-Executive Directors Martha Poulter and Steve Gunning will step down from the Board at the end of AGM. David Martin, Chairman, will become interim Executive Chairman until a permanent Chief Executive is appointed following the comprehensive search process which is underway.

FirstGroup Chairman David Martin said, "Trading is in line with our expectations year to date, and we continue to support our passengers and other stakeholders as travel patterns evolve. While we complete the search for a new Chief Executive, my focus is on ensuring we continue to drive value from our strong positions in UK bus and rail, progress our plans to resolve our non-core Greyhound operation and complete the return of value to our shareholders following the sale of the North American contract businesses."

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