FirstGroup has reported a sharp year-on-year increase in operating profit to £204.3million.
Adjusted operating profit for the 53 weeks to March 30 is up from the year prior at £161million.
Passenger volume increased by 7% which was supported by free travel for under-22s in Scotland.
The number of journey's per day rose to an average of 1.14 million compared to 1.07 million the year before.
Passenger revenue was also up 16.5% to £769.1million from £660million.
Commenting, Chief Executive Officer Graham Sutherland said: “We have made considerable progress in our financial and operational performance in FY 2024 as we continue to transform and grow our leading First Bus and First Rail businesses. This is testament to the resilience and capability of our people across the Group and leaves us well positioned to grow and create further value for all our stakeholders.
“Our focus remains on working with government and all our stakeholders to deliver for our customers and drive modal shift. We will continue to lead in environmental and social sustainability, including building out our adjacent electrification opportunities in First Bus, and investing to grow and diversify our portfolio to ensure our business remains profitable and resilient in the long-term.”
FTSE 100
The UK's flagship share index, the FTSE 100, was up 15-points at 8,242 shortly after opening this morning.
Brent crude oil futures were down 0.12%, trading at $81.53 a barrel.
Companies reporting today
- Bellway - Trading Statement
- FirstGroup - Full Year Results
- Oxford Instruments - Full Year Results