FirstGroup shares jump as 2025 outlook lifted

14th Nov 2024 08:06

(Sharecast News) - Shares in FirstGroup jumped on Thursday as the bus and rail operator said it was buying back an extra £50m in shares and lifted its full-year forecast after a strong performance in the first half of the year.

The company on Thursday said adjusted revenue rose to £649.6m in the six months to September 28, compared with £634.8m a year earlier.

Adjusted operating profit came in at £100.8m from £98.4m.

"Current trading and the group's outlook for full-year 2025 is slightly ahead of the outlook set out in the full year results in June 2024," the company said.

"We expect to make further progress in First Bus, reaching a 10% adjusted operating margin in the second half. Financial performance in First Rail is anticipated to be slightly ahead of our prior expectations.

Reporting by Frank Prenesti for Sharecast.com