Higher costs contribute to pretax loss
- FirstGroup reports pretax loss of 68.5 million pounds for 1H
- Adjusted operating profit rises to 100.6 million pounds
- Revenue falls to 2.207 billion pounds
- First Bus division beats revenue consensus
- First Rail division revenue decreases
FirstGroup, the train and bus operator, has reported a pretax loss of 68.5 million pounds for the first half of its fiscal year. This is a significant decrease compared to the pretax profit of 37 million pounds in the previous year. However, the company’s adjusted operating profit rose to 100.6 million pounds, indicating some positive performance. Despite this, revenue fell to 2.207 billion pounds, with the First Bus division being the only segment to beat revenue consensus. The division’s revenue increased to 504.9 million pounds, surpassing the expected 477.1 million pounds. On the other hand, the First Rail division experienced a decline in revenue, dropping from 1.78 billion pounds to 1.72 billion pounds. The company expects to make further progress in the second half for the First Bus division, while the financial performance of the First Rail division is expected to be in line with expectations. The board has declared an interim dividend of 1.5 pence per share, compared to 0.9 pence per share in the previous year.
Public Companies: FirstGroup (FTSE 250)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific financial figures and statements from FirstGroup regarding their pretax loss, adjusted operating profit, and revenue. It also includes information about the company’s outlook and dividend declaration. The information provided is factual and based on official statements from the company.
Noise Level: 3
Justification: The article provides a straightforward report on FirstGroup’s financial performance for the first half of the fiscal year. It includes relevant information such as the pretax loss, adjusted operating profit, and revenue figures. However, it lacks in-depth analysis, antifragility considerations, and does not provide any actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Train and bus operator industry
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of FirstGroup, a train and bus operator company. It discusses the company’s pretax loss for the first half of the fiscal year and its outlook for the year. There is no mention of any extreme event or its impact.
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