FirstGroup Slips To Loss In H1; Names Matthew Gregory CEO - Quick Facts

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(RTTNews.com) - FirstGroup Plc (FGROY.PK, FGROF.PK, FGP.L) reported that its loss attributable to equity holders of the parent for the half year ended 30 September 2018 was 6.9 billion pounds or 0.6 pence per share, compared to profit of 2.1 billion pounds or 0.2 pence per share in the prior year.

However, adjusted earnings per share rose to 2.9 pence from 1.9 pence in the prior year.

Statutory loss before tax for the six months was 4.6 billion pounds, wider than loss of 1.9 billion pounds last year, reflecting restructuring and reorganisation costs from withdrawal of Greyhound services in Western Canada.

Revenue for the half year rose 19.2 bpercent to 3.30 billion pounds from 2.77 billion pounds last year.

Looking ahead to fiscal 2018, FirstgGroup said it's outlook is unchanged. The company continues to expect broadly stable Group operating earnings in constant currency for the full year, with improvement in the Road divisions and a smaller Rail contribution. The company also expects broadly stable free cash generation for the full year.

In addition, FirstGroup said it has appointed Matthew Gregory as Chief Executive with immediate effect.

In addition to his role as Chief Financial Officer of the Group, Matthew has been performing the role of Interim Chief Operating Officer, with the operating divisions reporting directly to him, since May 2018.

Following this appointment, Chairman Wolfhart Hauser will revert to his non-executive Chairman role.

Matthew Gregory was appointed Interim COO of FirstGroup on 31 May 2018, having joined as CFO in December 2015. He joined the Group from Essentra plc, where he was Group Finance Director for nearly three years.

The company also announced that Steve Gunning has been appointed to the Board as an independent Non-Executive Director, with effect from 1 January 2019.

Read the original article on RTTNews (http://www.rttnews.com/2954519/firstgroup-slips-to-loss-in-h1-names-matthew-gregory-ceo-quick-facts.aspx)

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This article appears in: World Markets , Stocks
Referenced Symbols: FGROY ,

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