StockMarketWire.com - Firstgroup said revenues grew 13.7% over the winter period as strong performance in its first student segment underpinned performance over the winter period.

Revenues from the September to January period rose 13.7%, led by 6.2% growth in First Student, which benefited from the price increases and higher contract retention rates achieved during last summer’s bid season.

The Greyhound segment continued to face a difficult trading environment in certain of its markets as revenues grew just 0.2%.

First Bus like-for-like passenger revenue growth was 1.3% in the period with higher revenue per mile offsetting a like-for-like passenger volume decrease of 1.9% in the period, driven by subdued high street footfall over the Christmas period and network restructuring.

First Rail's like-for-like passenger revenue growth slowed to 4.2% in the period, reflecting significant infrastructure challenges which resulted in disappointing operating performance for passengers towards the end of 2018, the company said.

The company also said it had refinanced its £250m bond, which was due to be paid in January this year. The group’s next major refinancing is the £350m 8.75% bond due April 2021.


At 8:25am: [LON:FGP] FirstGroup PLC share price was +3.2p at 94.7p



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