Transport firm FirstGroup reports 39% surge in annual profits

May 14 2008 by Tony McDonough, icNorthWest

The firm behind the First Great Western rail service recently branded “unacceptable” by ministers is today reporting a sharp jump in profits.

FirstGroup, which last year added the North American owner of the Greyhound bus company to its portfolio of UK rail and bus services, says annual operating profits have reached £360.1m, a jump of 39% on a year earlier.

It reports strong growth across the group in the year to March 31, including in UK rail as operating profits increased 10.3% to £120m.