FirstGroup H1 Adj. Operating Profit From Cont. Ops. Declines - Quick Facts

FirstGroup (FGROY.PK,FGROF.PK,FGP.L) said its first-half adjusted operating profit from continuing operations was in line with expectations at 51.8 million pounds compared to 55.7 million pounds, prior year, with an increase in the adjusted operating profit of First Bus offset by a reduction in that of First Rail. For the 26 weeks to 25 September 2021, adjusted loss before tax from continuing operations narrowed to 6.3 million pounds from a loss of 15.6 million pounds, prior year. Adjusted loss per share was 0.4 pence compared to a loss of 1.4 pence.

Statutory operating profit from continuing operations increased to 52.2 million pounds from 37.8 million pounds, prior year. Pretax loss was 64.5 million pounds compared to a loss of 33.5 million pounds. Loss per share from continuing operations was 3.4 pence compared to a loss of 3.7 pence.

Revenue from continuing operations increased to 2.14 billion pounds from 2.05 billion pounds, prior year principally reflecting improving First Bus passenger revenues broadly offset by lower receipts from government grants and other funding mechanisms, while First Rail revenue was broadly flat compared with the prior period, the Group said.

The Directors believe that the company and the Group have adequate resources to continue in operational existence for the foreseeable future. FirstGroup said its cash generative businesses support intention to commence regular dividends within next 12 months.

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