Business
Pre Close Trading Update
Pre Close Trading Update.
About this update from Firstgroup Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\nFIRSTGROUP PLCpre close Trading update FirstGroup plc ('FirstGroup' or the 'Group') today provides an update on trading since the half year results published on 23 November 2023. First Rail overviewTrading in the First Rail division has been slightly ahead of the Group’s expectations due to strong performance in the division’s Open Access operations as a result of continued strong demand, effective yield management, and the settlement of certain one-off infrastructure and other claims during the period. Open Access growthOn 5 January 2024, the Group submitted to the Office of Rail and Road (‘ORR’), the first phase of an application for a new Open Access rail service between London and Sheffield. The proposed service would be part of the Group’s Hull Trains business and comprises two return journeys a day from London King’s Cross calling at Retford, Worksop, Woodhouse and Sheffield. A sizeable number of rail passengers currently drive to Doncaster station to pick up faster services to London rather than travelling via Sheffield; a new, convenient rail service from these local stations could help reduce the number of car journeys. The ORR consultation with industry partners has concluded. Capacity and performance modelling is now underway. The Group is also working on the fleet strategy and is in discussions with rolling stock companies. It is anticipated that services could begin in the second half of the 2025 calendar year. In addition, Lumo has identified opportunities to extend a number of its daily London to Edinburgh journeys to Glasgow. Discussions are in progress with Transport Scotland and Network Rail with regards to the final route options and timings, ahead of an application to the ORR for access rights. If successful, the new services will be operated with the existing Lumo fleet of all-electric trains and it is anticipated that they could begin in the second half of the 2025 calendar year. Elizabeth Line bidThe Group has been shortlisted with its bid partner Keolis SA to participate in the competitive process to select an operator for the Elizabeth Line on behalf of Transport for London. We look forward to submitting a compelling bid which demonstrates our collective experience of running metro and heavy rail systems. First Bus overviewTrading in the First Bus di...