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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  FirstGroup    FGP   GB0003452173

FIRSTGROUP

(FGP)
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FirstGroup : mulling options for U.S. assets

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12/16/2019 | 03:02am EST

FirstGroup Plc said on Monday it was exploring options, including a potential sale, for its North American contract businesses, which could result in the British bus and train operator exiting the United States.

The announcement comes less than a month after FirstGroup said it would focus on its core U.S. contracting businesses, which include the First Student school bus service and First Transit transportation service, leading to calls from two top shareholders to sell those assets instead.

Coast Capital Management and Robert Tchenguiz had separately asserted that Aberdeen-based FirstGroup's U.S. assets had no synergies with its operations at home, which include a bus and rail division.

The company, which last month reported a bigger first-half loss, has already put its iconic North American intercity bus service Greyhound up for sale this year, due to competition from low-cost airlines and a drop in demand.

First Student, which the company says is the largest provider of home-to-school student transportation in North America, made up more than a quarter of the company's revenue in 2019. First Transit contributed to 15% of sales.

The company also said it would look at ways to manage costs at its UK bus division, First Bus, before considering a sale process for the business.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Rashmi Aich)

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Financials (GBP)
Sales 2020 7 714 M
EBIT 2020 352 M
Net income 2020 156 M
Debt 2020 832 M
Yield 2020 -
P/E ratio 2020 9,64x
P/E ratio 2021 8,73x
EV / Sales2020 0,30x
EV / Sales2021 0,30x
Capitalization 1 503 M
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Technical analysis trends FIRSTGROUP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 140,50  GBp
Last Close Price 124,20  GBp
Spread / Highest target 32,9%
Spread / Average Target 13,1%
Spread / Lowest Target -19,5%
EPS Revisions
Managers
NameTitle
Matthew Gregory Chief Executive Officer, COO & Executive Director
David Robert Martin Non-Executive Chairman
Ryan Dirk Mangold Chief Financial Officer & Director
Warwick Brady Independent Non-Executive Director
Imelda Walsh Independent Non-Executive Director
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