Depressed passenger volumes have hit FirstGroup’s goal of building margins in its UK bus business back to above 10%.
The challenges facing the bus business were discussed by chief executive Tim O’Toole and chief financial officer Matthew Gregory during a presentation on First’s annual results to 31 March.
Gregory said the UK bus business had suffered in the second half of the year from reduced high street footfall, exceptionally wet weather, and rising congestion. Over the...
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