Business
FirstGroup plc Results for the 52 weeks to 25...
FirstGroup plc Results for the 52 weeks to 25....
About this update from Firstgroup Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\nFIRSTGROUP PLCRESULTS FOR THE 52 WEEKS TO 25 MARCH 2023 • Strong financial performance driven by growth in First Bus and First Rail open access operations: - Group adjusted attributable profit more than doubled, to £82.1m ahead of expectations (FY 2022: £36.2m)- adjusted EPS of 10.6p for continuing operations (FY 2022: 1.6p)- year end adjusted net cash of £109.9m ahead of expectations• Strategy remains focused on continuous improvement in operational delivery, continued investment in growth opportunities, delivering value to shareholders and playing a leading role in the decarbonisation of UK public transport • In line with this strategy delivered targeted deployment of capital including:- c.£37m of capital deployed on value accretive acquisitions in First Bus - accelerated investment in First Bus decarbonisation following successful applications for government co-funding; c.£43m gross investment in electric buses and depot infrastructure before funding- final dividend of 2.9p recommended in line with progressive growth and dividend policy- launch of £75m on-market share buyback programme in December 2022; £52.6m completed as at 7 June 2023 - additional buyback of £115m proposed following receipt of proceeds resulting from North America exit \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\tFY 2023 (£m)\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\tFY 2022 (£m)\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\tChange (£m)\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\tCont.\t\t\t\t\t\t\t\t\tDisc.\t\t\t\t\t\t\t\t\tTotal\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\tCont.\t\t\t\t\t\t\t\t\tDisc.\t\t\t\t\t\t\t\t\tTotal\t\t\t\t\t\t\t\t\t \t\t\t\t\t\...