Firstgroup PLC

FGP

Equity

ISIN GB0003452173 / Valor 362519

LSE London Stock Exchange, SETS (2024-12-23)

GBP 1.66+1.22%

Firstgroup PLC
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About company

Firstgroup PLC is a prominent private sector provider of public transport, offering easy and convenient mobility solutions that connect people and communities. The company operates through its two main divisions, First Rail and First Bus. First Rail is the UK's largest rail operator, with extensive experience in running various passenger rail services, including long-distance, commuter, regional, and sleeper services. On the other hand, First Bus is the second largest bus operator in the UK, serving a significant portion of the regional market outside London and carrying hundreds of thousands of passengers daily in the UK's largest towns and cities.

Summarized from source with an LLMView SourceSector: Consumer Services

Group Profit Increase

Firstgroup PLC reported a significant increase in Group adjusted operating profit to £204.3 million for FY 2024, up from £161.0 million in FY 2023. This increase was driven by continued progress in both First Bus and First Rail, an extra week of trading, and the receipt of higher than accrued FY 2023 variable fees in First Rail, amounting to approximately £13 million.

Adjusted EPS Growth

For FY 2024, Firstgroup PLC achieved an adjusted earnings per share (EPS) of 16.7p, compared to 11.6p in FY 2023. This improvement was bolstered by the repurchase of 80.6 million shares during the fiscal year, enhancing shareholder value.

Dividend Increase

Firstgroup PLC has recommended a final dividend of 4.0p per share for FY 2024, bringing the total dividend for the year to 5.5p. This represents a 45% increase compared to FY 2023, reflecting the company's strong financial performance and commitment to returning value to shareholders.

Strong Balance Sheet

Firstgroup PLC ended FY 2024 with a robust balance sheet, featuring an adjusted year-end net cash position of £64.1 million. This strong financial footing underscores the successful execution of the Group’s refreshed strategy and operational improvements.

Operational Achievements

Firstgroup PLC's First Bus division is on track to achieve a 10% adjusted operating profit margin, having grown to 9.4% in the second half of FY 2024. Additionally, the West Coast Partnership was awarded a National Rail Contract extending to October 2032, with a core three-year term, highlighting the Group's operational success and growth opportunities.

Summarized from source with an LLMView Source

Key figures

-3.54%1Y

59.4%3Y

31.0%5Y

Performance

29.3%1Y

30.8%3Y

58.8%5Y

Volatility