FirstGroup plc (FGROY.PK,FGROF.PK,FGP.L) posted a first half statutory loss before tax on continuing basis of 68.5 million pounds compared to profit of 37.0 million pounds, last year. Loss per share from continuing operations was 7.9 pence compared to profit of 3.9 pence. Adjusted operating profit from continuing operations was 100.6 million pounds compared to 66.1 million pounds, last year, reflecting strong demand in the First Rail open access operations, and higher than anticipated variable fee payments due to the division’s management fee-based contracts for fiscal 2023 having now been agreed with the Department for Transport. Adjusted continuing EPS was 7.8 pence compared to 4.5 pence.

For the 27 weeks to 30 September 2023, revenue from continuing operations was 2.207 billion pounds compared to 2.212 billion pounds in 26 weeks to 24 September 2022. First Bus revenue increased by 18% to 504.9 million pounds.

The Group said current trading and the outlook for fiscal 2024 is in line with expectations as set out in the trading update published on 11 October 2023

The Board has declared an interim dividend of 1.5 pence per share, to be paid on 3 January 2024 to shareholders on the register at 1 December 2023.

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Original: RTT – Earnings: FirstGroup Plc H1 Adj. Operating Profit From Cont. Ops. Rises