First ‘on track’
In a trading update for the six months to 30 September 2014, revenue growth and margin improvement in FirstGroup’s bus division was reported as being ‘on track’. Its UK Bus transformation programme continues to progress in line with its expectations. Both like-for-like passenger revenue and passenger volumes are expected to increase by 2.1% in the first half. Its other key initiatives, including more disciplined operations, further cost efficiencies, mobile ticketing and fleet investments, are also on track. In further news, it is understood First will lose the ScotRail rail franchise to Abellio from spring 2015.