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FirstGroup PLC (FGROF.PK)

FGROF.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

UK's CMA accepts fare controls on London-Exeter rail route
Friday, 18 Aug 2017 02:06am EDT 

Aug 18 (Reuters) - UK's COMPETITION AND MARKETS AUTHORITY - :UK'S CMA - CMA HAS ACCEPTED FARE CONTROLS THAT ADDRESS ITS COMPETITION CONCERNS ON THE LONDON–EXETER RAIL ROUTE.UK'S CMA - COMPANIES HAVE ALSO OFFERED TO MAINTAIN THE AVAILABILITY OF CHEAPER ADVANCE FARES ON BOTH SERVICES, AGAIN BY LINKING THEM WITH SIMILAR ROUTES.UK'S CMA - ACCEPTANCE OF THESE PROPOSALS MEANS THAT THE AWARD OF THE FRANCHISE WILL GO AHEAD WITHOUT THE DEAL BEING REFERRED FOR A MORE IN-DEPTH ‘PHASE 2’ INVESTIGATION.UK'CMA - FIRSTGROUP AND MTR WILL BE REQUIRED TO SUBMIT REGULAR REPORTS TO THE CMA TO SHOW THEY ARE COMPLYING WITH THE AGREEMENT.  Full Article

UK's competition watchdog to consider FirstGroup fare-cap proposals
Wednesday, 19 Jul 2017 02:13am EDT 

July 19 (Reuters) - :Competition and Markets Authority says is considering proposed fare controls to protect London-Exeter rail passengers following award of South Western franchise..Firstgroup and its joint venture partner MTRr were given opportunity to avoid an in-depth investigation by offering proposals to address concerns..CMA says companies have offered to cap unregulated fares between London and Exeter on both South Western and GWR services by linking these to prices on a number of other comparable routes..CMA says they have also proposed to maintain availability of cheaper advance fares on both services - again by comparing with similar routes..CMA has decided that there are reasonable grounds for believing that these proposals, or a modified version of them, might be acceptable to remedy competition concerns..CMA has until Sept. 20 to consider whether to accept undertakings. Says will undertake a public consultation..  Full Article

UK's CMA says competition concerns raised on one route as Firstgroup operates GWR franchise
Tuesday, 11 Jul 2017 02:00am EDT 

July 11 (Reuters) - Firstgroup Plc ::UK's CMA - competition concerns raised on one route as firstgroup operates GWR franchise, which runs only other train service between london and exeter.UK's CMA - concerned that Firstgroup having control of both services could reduce competition on route, leading to higher fares or worse service for passengers.UK's CMA - Firstgroup and MTR now have opportunity to offer proposals to CMA to address concerns identified.UK's CMA - if these undertakings are considered sufficient, companies involved will be able to avoid an in-depth phase 2 investigation.  Full Article

Firstgroup and partner Trenitalia to bid for upcoming West Coast Partnership
Thursday, 22 Jun 2017 01:51am EDT 

June 22 (Reuters) - Firstgroup Plc ::Says Firstgroup, with its partner Trenitalia, will bid for upcoming West Coast Partnership.  Full Article

FirstGroup FY adjusted operating profit growth up 12.7 pct
Thursday, 1 Jun 2017 02:17am EDT 

June 1 (Reuters) - Firstgroup Plc :+8.3 pct group revenue growth and +12.7 pct adjusted operating profit growth.In constant currency, group revenue was (0.5) pct and adjusted operating profit +2.3 pct.Group adjusted operating margin improved to 6 pct.Group faces a mixed trading environment.Sees continued economic uncertainty in UK.Further progress expected from road divisions, with first rail's margin reducing.Continued free cash generation expected after disciplined investment to support our customers' and communities' needs.  Full Article

Firstgroup says Network Rail submits planning consent for Exeter rail depot
Friday, 24 Feb 2017 09:32am EST 

Firstgroup Plc : New 40 million stg rail depot planned for Exeter . Planning consent for a new rail depot at Exeter has been submitted by Network Rail on behalf of GWR .Gwr is seeking to begin new depot, subject to planning consent being secured, in spring 2018 and will complete in mid-2019.  Full Article

Firstgroup's full-year view unchanged after flat Q3
Tuesday, 7 Feb 2017 01:01am EST 

Firstgroup Plc : Trend of overall trading and expectations for full year unchanged . . Reported group revenue increased by 12.8% in q3 . Group revenue in constant currency was flat, with growth in north america offset by previously announced rail franchise changes and first bus trading . Industry-Wide market conditions continue to be challenging for first bus . First bus like-for-like passenger revenues decreased by 0.6% in q3, a modest improvement on first half .First rail q3 like-for-like passenger revenue growth 1.1%.  Full Article

UK's CMA to review undertakings on Firstgroup Greater Bristol bus services
Tuesday, 31 Jan 2017 10:06am EST 

UK's Competition and Markets Authority (CMA) - :CMA is to review long-standing undertakings covering Firstgroup Plc , local authority tendered bus services in Greater Bristol area.  Full Article

Firstgroup forms JV to bid for rail franchise competition
Tuesday, 24 Jan 2017 05:36am EST 

Firstgroup Plc : Co, Trenitalia UK Limited will bid together for East Midlands and West Coast partnership rail franchise competitions due to be awarded in 2018 .JV has today submitted an expression of interest to Department For Transport in respect of East Midlands rail franchise competition.  Full Article

UK's CMA clears East Coast Buses-First Scotland East deal
Monday, 23 Jan 2017 07:00am EST 

UK's CMA (Competition and Markets Authority):Not to refer completed acquisition by East Coast Buses Limited of the East Coast operations of First Scotland East Limited to phase 2 investigation.  Full Article

UK market regulator raises competition concerns in FirstGroup, MTR contract

July 11 UK market regulator Competition and Markets Authority raised concerns on Tuesday about the lack of competition on one train route, between London and Exeter, which is part of the new South Western franchise awarded to FirstGroup and Hong Kong's MTR.