First Group reports passenger growth


Passenger revenue growth for First Group slowed at just over 4% to September in 2018, despite the transport operator reporting a near 14% rise in revenue.

The company operates bus and rail services said their growth reflected, “significant infrastructure challenges which resulted in disappointing operating performance for passengers towards the end of 2018.”

The company announced on Tuesday morning that they have sold their Manchester bus depot to Go-Ahead Group for around £11m.

Matthew Gregory, chief executive of First Group said, “Our overall trading performance in the period was in line with our expectations; in particular last summer’s strong bid season in First Student, our largest division, together with further momentum in First Bus, support our unchanged outlook for the full year.

“Recognising that overall conditions in our markets remain uncertain, and poor weather retains the potential to affect our performance, we are getting on with delivering plans that will improve services for customers and unlock the inherent value within the group.”