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UK's FirstGroup reports 23 pct profit jump but outlook cools shares
June 1, 2017 / 8:19 AM / 6 months ago

UK's FirstGroup reports 23 pct profit jump but outlook cools shares

June 1 (Reuters) - FirstGroup on Thursday warned of mixed trading ahead citing uncertainty in Britain, sending shares in the British transport company lower despite posting a 23 percent jump in annual profit.

Shares in FirstGroup, which runs trains including the Great Western Railway in Britain and school buses in the United States, fell as much as 10 percent to lead the losers among FTSE mid-cap shares.

Profit before tax rose 23 percent to 207 million pounds ($266 million) on revenue up 8.3 percent to 5.65 billion pounds.

However, the company warned that it faced mixed trading conditions marked by steady progress in North America but economic uncertainty in Britain.

FirstGroup shares were down 6.5 percent at 140.1 pence at 0804 GMT.

$1 = 0.7769 pounds Reporting by Rahul B in Bengaluru; editing by Jason Neely

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