07 February 2017/Categories: CILT, Industry News, Bus & Coach, Rail, Transport Planning
• Reported Group revenue increased by 12.8% in the third quarter, benefiting from favourable currency translation. Group revenue in constant currency was flat, with growth in North America offset by previously announced rail franchise changes and First Bus trading.
Increase/(decrease) vs comparable period, in constant currency
Q3 2016/17
YTD 2016/17
First Student revenue
+1.0%
+0.5%
First Transit revenue
+5.5%
+4.0%
Greyhound like-for-like revenue
+1.2%
(2.5)%
First Bus like-for-like passenger revenue
(0.6)%
(1.1)%
First Rail like-for-like passenger revenue
+1.1%
+0.8%
Commenting on the announcement, FirstGroup Chief Executive Tim O'Toole said: "Our overall trading performance continues to support our expectation of good progress for the current year. Our substantial North American operations are delivering encouraging performances and are benefiting from currency tailwinds, but we continue to experience tough trading conditions for our First Bus and First Rail operations in what remains an uncertain UK macroeconomic environment. We remain focused on disciplined execution to deliver significantly increased cash generation for the full year."
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