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FirstGroup raises full-year profit expectations as bus travel recovers

UK transport company says bus passenger numbers rose to 83% of 2020 levels

Passengers have returned to bus travel this winter, UK transport company FirstGroup has said, pointing to recovery for the sector that suffered at the height of the Covid-19 pandemic.

The FTSE 250 group on Friday raised its profit guidance for the full year as it posted a recovery in bus passenger volumes to 83 per cent of their 2020 equivalent levels.

Full-year 2023 adjusted operating profit and adjusted attributable profit will be ahead of the group’s previous expectations, FirstGroup said in a statement on Friday, adding that its expectations for 2024 “remain unchanged”.

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