27 March 2003
Trading Update
Ahead of a series of pre-close meetings with analysts to be held this week,
FirstGroup plc confirms that Group sales and profit before tax and exceptional
items for the year to 31 March 2003 will be in line with market expectations.
In UK bus we have secured new business in London worth £25m and seen 1%
passenger volume growth outside the capital. Passenger volumes on First Great
Western and First Great Eastern have continued to show encouraging growth of 4%
year on year. We have had another good year in North America with sales up over
10%, although US operating profit has been slightly impacted by unusually heavy
snowfalls and higher fuel and insurance costs. The year has seen further strong
cash generation of over £300m which has enabled the Group to continue investing
in the business.
The company expects to announce its results for the year to 31 March 2003 on 14
May 2003.
Contacts:
Iain Lanaghan Group Finance Director 020 7291 0502
Michael Mitchell Corporate Communications Director 020 7291 0504
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