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FirstGroup PLC on Tuesday reported a swing to profit during its most recent financial year, as revenue rose against one-off settlement charges from the year before. The Aberdeen, Scotland-based public transport provider said it swung to pretax profit of £164.9 million in the 52 weeks that ended March 29, from a £18.8 million loss in the 53 weeks that ended March 30, 2024. This was partly driven by one-off charges related to the firm’s termination of its participation in two Local Government Pension Schemes, resulting in a £146.9 million settlement in financial 2024. FirstGroup had reported pretax profit of £97.1 million in the 52 weeks that ended March 25, 2023. Revenue in financial 2025 rose 7.4% to £5.07 billion from £4.72 billion. FirstGroup proposed a final dividend of 4.8 pence per share, bringing the total dividend for the year to 6.5p. This was up 18% from 5.5p the year before. ‘I am pleased to report another positive set of results for our 2025 financial year. We have further strengthened our businesses and continued to deliver against our strategy, including growing and diversifying our earnings in both First Bus and First Rail. This leaves us well placed to at least maintain our adjusted earnings per share in FY 2026, from a stronger base, as we continue to successfully navigate a period of transition in bus and rail in the UK,’ said Chief Executive Officer Graham Sutherland. ‘Our focus remains on operational excellence and the disciplined deployment of capital to maintain our accelerated investment in decarbonisation and continuing to build a diverse, sustainable earnings base, while returning any excess capital to shareholders.’ Looking ahead, the firm expects to at least maintain adjusted earnings per share in financial 2026, alongside annualised cost savings of at least £15 million being delivered in the first half as a result of business restructuring. Current trading and outlook for financial 2026 remains in line with the group’s expectations, said FirstGroup. Shares in FirstGroup were up 6.2% at 205.80 pence in London on Tuesday morning. The stock is up 21% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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