FirstGroup sees FY slightly ahead of forecasts

12th Mar 2024 08:09

(Sharecast News) - Transport operator FirstGroup said it expected annual earnings would be slightly better than expectations after a strong performance from its rail division.

In a trading update ahead of full-year results FirstGroup said rail operations had benefited from higher demand and the settlement of one-off infrastructure and other claims during the period.

"Due to the slightly stronger performance in First Rail detailed above, the group anticipates that its full-year 2024 group adjusted operating profit and adjusted earnings will be slightly ahead of the board's previous expectations," the company said on Tuesday.

Reporting by Frank Prenesti for Sharecast.com