FirstGroup Reports Pre-tax Loss For Full Year; Revenue Improves

Rail and bus operator FirstGroup Plc (FGROY.PK) on Tuesday reported loss before tax of 17.7 million pounds for the full year, compared with profit before tax of 29.1 million pounds a year ago, on higher operating costs.

The company posted loss from continuing operations of 5.8 million pounds or 1.1p per share in the year compared with profit of 22.8 million pounds or 0.p per share last year.

Including discontinued operations, FirstGroup had a profit of 636.4 million pounds or 60.2p per share compared with 78.4 million pounds or 6.4p per share in the prior year.

On an adjusted basis, profit before tax from continuing operations was 24.8 million pounds compared with loss of 29.7 million pounds last year.

Adjusted earnings from continuing operations was 16.5 million pounds or 1.6p per share compared with loss o 33.2 million pounds or per share of 2.8p per share a year earlier.

Group adjusted attributable profit increased to 36.2 million pounds or 10.2p per share from 19.9 million pounds or 3.3p per share in the previous year.

Revenue from continuing operations increased to 4.591 billion pounds from 4.319 billion pounds, primarily on improved passenger volumes.

Looking forward, the company said its current trading is in line with expectations and sees significant further progress in the year to March 2023.

Additionally, FirstGroup has proposed a final dividend of 1.1p per share, to be paid on 19 August 2022 to shareholders on the register at 15 July 2022.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing and delivery platform Uber Technologies, Inc. reported Wednesday weak profit in its fourth quarter, while adjusted EBITDA surged from last year with strong revenue growth above market view. Gross bookings increased and the company projects higher gross bookings in the first quarter. Nelson Chai, CFO, said the company significantly exceeded profitability outlook in 2022, ... Societe Generale Group reported Wednesday a weak profit in its fourth quarter, despite higher net banking income. Further, the French Financial services major proposed a dividend and around 440 million euros share buyback program. The company also confirmed fiscal 2025 financial targets. City of Industry, California-based Titans Global Inc. is recalling certain JSJ branded cakes citing potential to contain undeclared eggs, a known allergen, the U.S. Food and Drug Administration said. The recall involves its 95g packages of JSJ Chocolate Cake, JSJ ZSR Cake, and JSJ DMC Leaf Cake food treats.
Follow RTT