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FirstGroup PLC (FGP.L)

FGP.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

UK's CMA accepts fare controls on London-Exeter rail route
Friday, 18 Aug 2017 

Aug 18 (Reuters) - UK's COMPETITION AND MARKETS AUTHORITY - :UK'S CMA - CMA HAS ACCEPTED FARE CONTROLS THAT ADDRESS ITS COMPETITION CONCERNS ON THE LONDON–EXETER RAIL ROUTE.UK'S CMA - COMPANIES HAVE ALSO OFFERED TO MAINTAIN THE AVAILABILITY OF CHEAPER ADVANCE FARES ON BOTH SERVICES, AGAIN BY LINKING THEM WITH SIMILAR ROUTES.UK'S CMA - ACCEPTANCE OF THESE PROPOSALS MEANS THAT THE AWARD OF THE FRANCHISE WILL GO AHEAD WITHOUT THE DEAL BEING REFERRED FOR A MORE IN-DEPTH ‘PHASE 2’ INVESTIGATION.UK'CMA - FIRSTGROUP AND MTR WILL BE REQUIRED TO SUBMIT REGULAR REPORTS TO THE CMA TO SHOW THEY ARE COMPLYING WITH THE AGREEMENT.  Full Article

UK's competition watchdog to consider FirstGroup fare-cap proposals
Wednesday, 19 Jul 2017 

July 19 (Reuters) - :Competition and Markets Authority says is considering proposed fare controls to protect London-Exeter rail passengers following award of South Western franchise..Firstgroup and its joint venture partner MTRr were given opportunity to avoid an in-depth investigation by offering proposals to address concerns..CMA says companies have offered to cap unregulated fares between London and Exeter on both South Western and GWR services by linking these to prices on a number of other comparable routes..CMA says they have also proposed to maintain availability of cheaper advance fares on both services - again by comparing with similar routes..CMA has decided that there are reasonable grounds for believing that these proposals, or a modified version of them, might be acceptable to remedy competition concerns..CMA has until Sept. 20 to consider whether to accept undertakings. Says will undertake a public consultation..  Full Article

UK's CMA says competition concerns raised on one route as Firstgroup operates GWR franchise
Tuesday, 11 Jul 2017 

July 11 (Reuters) - Firstgroup Plc ::UK's CMA - competition concerns raised on one route as firstgroup operates GWR franchise, which runs only other train service between london and exeter.UK's CMA - concerned that Firstgroup having control of both services could reduce competition on route, leading to higher fares or worse service for passengers.UK's CMA - Firstgroup and MTR now have opportunity to offer proposals to CMA to address concerns identified.UK's CMA - if these undertakings are considered sufficient, companies involved will be able to avoid an in-depth phase 2 investigation.  Full Article

Firstgroup and partner Trenitalia to bid for upcoming West Coast Partnership
Thursday, 22 Jun 2017 

June 22 (Reuters) - Firstgroup Plc ::Says Firstgroup, with its partner Trenitalia, will bid for upcoming West Coast Partnership.  Full Article

FirstGroup FY adjusted operating profit growth up 12.7 pct
Thursday, 1 Jun 2017 

June 1 (Reuters) - Firstgroup Plc :+8.3 pct group revenue growth and +12.7 pct adjusted operating profit growth.In constant currency, group revenue was (0.5) pct and adjusted operating profit +2.3 pct.Group adjusted operating margin improved to 6 pct.Group faces a mixed trading environment.Sees continued economic uncertainty in UK.Further progress expected from road divisions, with first rail's margin reducing.Continued free cash generation expected after disciplined investment to support our customers' and communities' needs.  Full Article

Paris region opens bus system to competition

PARIS The Paris region opened its bus system to competition on Wednesday, kicking off the liberalization of one of Europe's biggest public transport systems.