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FirstGroup PLC on Friday said that financial 2026 trading so far was in line with expectations, and began the second £25 million tranche of an ongoing buyback scheme. The Aberdeen, Scotland-based private company provides public transport through its First Bus and First Rail divisions. The latter operates Avanti West Coast and Great Western Railway under state contracts. FirstGroup hailed financial 2025 as ‘another successful year’, with both divisions ‘further strengthened’ in the year that ended March 29. ‘This has left us well placed to at least maintain our adjusted earnings per share in financial 2026, as we focus on operational excellence and the disciplined deployment of capital on decarbonisation, growth and shareholder returns,’ the company said on Friday. In its financial 2025 report, the firm targeted annualised cost savings of at least £15 million in the first half of financial 2026, resulting from business restructuring. FirstGroup swung to a 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. The boost was partly due to a £146.9 one-off settlement, which FirstGroup received after ending its participation in local government pension schemes. Separately, the company on Thursday completed the first £25 million tranche of ongoing buybacks. As of Friday, the second tranche, which will be for the same amount, has begun. The plan is to repurchase up to 61.8 million, or 14.99%, of shares for a total of £50 million by June 10, 2026. FirstGroup shares were flat at 217.00p on Friday morning in London. Its half-year results are expected on November 18. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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