Profits up at First
Group revenue was up 1.6 per cent at £3,300.7million (2012: £3,250.0million), and operating margin was up slightly at 3.3 per cent (2012: 3.1 per cent). The UK Bus division revenue was £490.7million (2012: £572.9million) which produced an operating profit of £17.3million (2012: £21.0million). This follows First’s withdrawal from London and retrenchment elsewhere.
First says it remains confident that the trends toward increased urbanisation and greater congestion will generate significant opportunities for its business, and that it is returning to the strength necessary to drive sustainable, long term growth.