Train GraphicClick on the map to explore geographics
 
I need help
FAQ
Emergency
About .
Travel & transport from BBC stories as at 06:55 29 Mar 2024
- Bus plunges off South Africa bridge, killing 45
- Easter getaway begins with flood alerts in place
Read about the forum [here].
Register [here] - it's free.
What do I gain from registering? [here]
 02/06/24 - Summer Timetable starts
17/08/24 - Bus to Imber
27/09/25 - 200 years of passenger trains

On this day
29th Mar (1913)
Foundation of National Union or Railwaymen (*)

Train RunningCancelled
06:30 Bristol Temple Meads to London Paddington
07:00 Bedwyn to Newbury
07:22 Newbury to Bedwyn
07:49 Bedwyn to Newbury
08:13 Newbury to Bedwyn
08:46 Bedwyn to Newbury
09:54 Bedwyn to Newbury
10:22 Newbury to Bedwyn
11:29 Newbury to Bedwyn
11:57 Bedwyn to Newbury
12:52 Bedwyn to Newbury
Short Run
04:54 Plymouth to London Paddington
05:23 Hereford to London Paddington
05:33 Plymouth to London Paddington
05:55 Plymouth to London Paddington
06:00 Bedwyn to London Paddington
06:37 Plymouth to London Paddington
06:48 Exeter St Davids to Exmouth
07:03 London Paddington to Paignton
07:38 Bristol Temple Meads to Penzance
07:40 Bristol Temple Meads to Westbury
08:35 Plymouth to London Paddington
10:35 London Paddington to Exeter St Davids
Delayed
23:45 London Paddington to Penzance
05:03 Penzance to London Paddington
06:05 Penzance to London Paddington
07:10 Penzance to London Paddington
08:03 London Paddington to Penzance
08:15 Penzance to London Paddington
09:04 London Paddington to Plymouth
09:37 London Paddington to Paignton
10:04 London Paddington to Penzance
11:03 London Paddington to Plymouth
PollsOpen and recent polls
Closed 2024-03-25 Easter Escape - to where?
Abbreviation pageAcronymns and abbreviations
Stn ComparatorStation Comparator
Rail newsNews Now - live rail news feed
Site Style 1 2 3 4
Next departures • Bristol Temple MeadsBath SpaChippenhamSwindonDidcot ParkwayReadingLondon PaddingtonMelksham
Exeter St DavidsTauntonWestburyTrowbridgeBristol ParkwayCardiff CentralOxfordCheltenham SpaBirmingham New Street
March 29, 2024, 07:02:51 *
Welcome, Guest. Please login or register.

Login with username, password and session length
Forgotten your username or password? - get a reminder
Most recently liked subjects
[82] would you like your own LIVE train station departure board?
[76] West Wiltshire Bus Changes April 2024
[74] Reversing Beeching - bring heritage and freight lines into the...
[67] Return of the BRUTE?
[57] Infrastructure problems in Thames Valley causing disruption el...
[46] 2024 - Service update and amendment log, Swindon <-> Westbury...
 
News: A forum for passengers ... with input from rail professionals welcomed too
 
   Home   Help Search Calendar Login Register  
Pages: [1]
  Print  
Author Topic: First Group 2019 full year results and strategy update.  (Read 2342 times)
Henry
Hero Member
*****
Posts: 369


View Profile
« on: May 30, 2019, 09:38:07 »


 Interesting article, showing concerns regarding Rail Franchise maybe ?

 In the UK (United Kingdom), we will continue to operate our First Rail businesses in accordance with their contractual terms. First Rail’s goal remains to add value through our expertise and strong industry relationships. Although our rail franchise portfolio has delivered significant returns for the Group over the last five years, we have concerns with the current balance of risk and reward being offered. We await the outcome of the Government’s review as it seeks to address these industry issues.

 

There is considerable uncertainty about a number of factors affecting the performance of our SWR» (South Western Railway - about) franchise, including infrastructure reliability, timetabling delays and industrial action, and we remain in negotiations with the Government regarding potential commercial and contractual remedies. As a result, we have taken the decision to set aside an amount of £102m in respect of our share of potential future losses. We will continue to deliver our plans for SWR, which are the right ones for our customers and include a new fleet of suburban trains.
Logged
Timmer
Global Moderator
Hero Member
*****
Posts: 6293


View Profile
« Reply #1 on: May 30, 2019, 09:48:20 »

Hi Henry

Are you able to provide a link to the article?

Thanks
Logged
martyjon
Transport Scholar
Hero Member
******
Posts: 1941


View Profile
« Reply #2 on: May 30, 2019, 10:52:41 »

Both of todays regulatory announcements today ;-

Final Results ;-
https://otp.tools.investis.com/generic/regulatory-story.aspx?newsid=1271437&cid=858

Strategic Policy -;
https://otp.tools.investis.com/generic/regulatory-story.aspx?newsid=1271427&cid=858
Logged
chuffed
Hero Member
*****
Posts: 1499


View Profile
« Reply #3 on: May 30, 2019, 12:45:37 »

The 0800 news on Radio 4 said First were looking to sell their First bus operations in the UK (United Kingdom). I seem to remember that this was also proposed in 2012 and First Manchester didn't sell up until earlier this year.
Logged
Lee
Transport Scholar
Hero Member
******
Posts: 7519


GBR - The Emperor's New Rail Network


View Profile WWW
« Reply #4 on: May 30, 2019, 13:17:01 »

Yep - https://www.bristolpost.co.uk/news/bristol-news/first-bus-sale-bristol-traffic-2922296
Logged

Vous devez être impitoyable, parce que ces gens sont des salauds - https://looka.com/s/78722877
grahame
Administrator
Hero Member
*****
Posts: 40691



View Profile WWW Email
« Reply #5 on: May 30, 2019, 21:29:42 »

BBC» (British Broadcasting Corporation - home page) - https://www.bbc.co.uk/news/business-48456840

Quote
FirstGroup to sell Greyhound buses in US

FirstGroup signalled it is considering breaking itself up by seeking a buyer for its Greyhound buses in the US.

The Aberdeen-based company, under fire from an activist investor, is also looking at spinning off its UK (United Kingdom) buses arm, First Bus.

Matthew Gregory, chief executive since November, indicated the group's train franchises could be reviewed and its focus now would be on North America.

The group's annual loss was £97.9m, narrower than £327m a year earlier.

The company is facing pressure from one of its investors to boost returns to shareholders in the business, which also operates the distinctive yellow school buses in the US.

Its shares jumped 12% as Mr Gregory announced the overhaul of the business which currently operates a fifth of all local bus services outside London.
Logged

Coffee Shop Admin, Acting Chair of Melksham Rail User Group, Option 24/7 Melksham Rep
stuving
Transport Scholar
Hero Member
******
Posts: 7156


View Profile
« Reply #6 on: May 30, 2019, 23:26:14 »

This may well not need to go here - or even on the forum - but it does kind of parallel this thread's topic.
From the BBC» (British Broadcasting Corporation - home page):
Quote
Alexander Dennis sold to Canadian firm for £320m
Image copyright Alexander Dennis

Alexander Dennis has been owned by group of Scottish investors since 2004

One of Scotland's biggest manufacturers has been sold to a Canadian firm for £320m.

Alexander Dennis, the world's largest producer of double-decker buses, was acquired by a group of Scottish investors in 2004.

Stagecoach founders Sir Brian Souter and Dame Ann Gloag owned more than half the Falkirk-based company.

Alexander Dennis will now become part of the NFI Group, which makes buses for the North American market.

The firm employs 2,500 workers, most of them in Falkirk but also in Guildford and Scarborough.

Note this is not strictly to do with Stagecoach itself, just that 55% of ADL was owned by the Gloags. And it's not the first time the business (or Alexander's at least) has been taken over; in the past it's been bought out again. This is the announcement from NFI.
Logged
stuving
Transport Scholar
Hero Member
******
Posts: 7156


View Profile
« Reply #7 on: December 17, 2019, 17:40:49 »

Another statement from First Group, saying they will look at selling the North American school bus business. So, after a review of strategy by the new chairman, they would like to sell some more American buses (the last announcement was about selling Greyhound).

Quote
Following this review and having further validated whether the monetisation of these businesses would deliver material value enhancement for all shareholders, the Board has appointed advisors to formally explore all options in respect of our North American contract businesses, First Student and First Transit, including a potential disposal.

At our recent half-year results the Group updated on progress including the strengthening of its Rail business with the addition of West Coast Partnership, progressing the sale of Greyhound and the development of a framework for the First Bus pension scheme. We are actively addressing the cost base of First Bus through a comprehensive efficiency programme, the results of which will be substantially more evident in the second half of the year and beyond. Therefore, the Board determined that greater value will be achieved by delivering this margin enhancement prior to any launch of a formal sale process.
Logged
grahame
Administrator
Hero Member
*****
Posts: 40691



View Profile WWW Email
« Reply #8 on: December 17, 2019, 18:12:54 »

Quote
At our recent half-year results the Group updated on progress including the strengthening of its Rail business with the addition of West Coast Partnership, progressing the sale of Greyhound and the development of a framework for the First Bus pension scheme.

"We're reasonably happy with the way UK (United Kingdom) rail is working, looking to get rid of Greyhound as soon as we can and working out what the **** to do about bus pensions"

Quote
We are actively addressing the cost base of First Bus through a comprehensive efficiency programme, the results of which will be substantially more evident in the second half of the year and beyond. Therefore, the Board determined that greater value will be achieved by delivering this margin enhancement prior to any launch of a formal sale process.

"We're not looking to sell the UK buses very quickly any more.  Instead, we're squeezing them to save money in the short term so that we can sell them later when they have a better bottom line".     They're a commercial company and their stated objective is to enhance value for shareholders, it says nothing about quantity or quality of service, or the effect on the wider economy or the lives of customers that the "efficiency program" has already started to bring and seems set to continue ("and beyond").
Logged

Coffee Shop Admin, Acting Chair of Melksham Rail User Group, Option 24/7 Melksham Rep
Do you have something you would like to add to this thread, or would you like to raise a new question at the Coffee Shop? Please [register] (it is free) if you have not done so before, or login (at the top of this page) if you already have an account - we would love to read what you have to say!

You can find out more about how this forum works [here] - that will link you to a copy of the forum agreement that you can read before you join, and tell you very much more about how we operate. We are an independent forum, provided and run by customers of Great Western Railway, for customers of Great Western Railway and we welcome railway professionals as members too, in either a personal or official capacity. Views expressed in posts are not necessarily the views of the operators of the forum.

As well as posting messages onto existing threads, and starting new subjects, members can communicate with each other through personal messages if they wish. And once members have made a certain number of posts, they will automatically be admitted to the "frequent posters club", where subjects not-for-public-domain are discussed; anything from the occasional rant to meetups we may be having ...

 
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.2 | SMF © 2006-2007, Simple Machines LLC Valid XHTML 1.0! Valid CSS!
This forum is provided by customers of Great Western Railway (formerly First Great Western), and the views expressed are those of the individual posters concerned. Visit www.gwr.com for the official Great Western Railway website. Please contact the administrators of this site if you feel that the content provided by one of our posters contravenes our posting rules (email link to report). Forum hosted by Well House Consultants

Jump to top of pageJump to Forum Home Page