These have been one f my best performers this year.
New electrification deal with Hitachi today |
 Down she goes...
TransPennine Express has lost its contract to run its service following customer complaints of poor service and cancelled trains.
The government has announced it will now run the rail service, which covers the North of England and parts of Scotland.
There had been calls for its contract to be removed after poor levels of service over the past year.
Around one in six of its services were cancelled in March.
This was the highest rate in the UK.
The Department for Transport said that TransPennine's contract would not be renewed on 28 May.
It will now be run by an "Operator of Last Resort" which means a business will step in on behalf of the government to take over the management of the service.
Transport Secretary Mark Harper said: "After months of commuters and Northern businesses bearing the brunt of continuous cancellations, I've made the decision to bring Transpennine Express into Operator of Last Resort."
Transpennine - which is run by the company FirstGroup - has stood out for the number of trains it has cancelled the night before they are due to run, because of staff shortages. |
Such strength in the share price ..underpinned by a strong balance sheet + current trading better than expectations.
Excellent - If the markets werent having a meltdown this would be at least 10p higher than current levels.. |
This is a nice little dip to buy into here....especially after Fridays positive trade update...I'm in @ 103.3p.
FY 2023 Guidance
As a result of the factors detailed above, the Group anticipates that the FY
2023 Group adjusted operating profit and Group adjusted attributable profit
will be ahead of the Group's previous expectations. The Group's expectations
for FY 2024 remain unchanged. |
FirstGroup PLC issued a positive Trading Update for the period since November 2022. Guidance was raised, FY 2023 Group adjusted operating profit and adjusted attributable profit will be ahead of the Group’s previous expectations. First Bus improved performance was driven by higher passenger volumes in H2 2023 and driver resource pressures easing in certain locations. First Rail open access operations also benefitted from stronger than anticipated passenger demand over the winter months. The acquisition of Ensign Bus Company Limited completed during the period, while management expect to receive around £74m as earnout consideration from the sale of First Transit to Transdev North America. Valuation looks relatively attractive with forward PE at 12x and PS ratio at just 0.17x, share price lacks some momentum. FGP is a solid Passenger Transportation name that has been repositioned in recent years. Not particularly exciting, but not a bad defensive name to hold in a portfolio either, particularly with the UK economy in recession...
...from WealthOracle |
First have given up its operations in Southampton. Didn't sell it to anyone, just closed it down. |
Is there any talk of a takeover? |
https://www.google.com/amp/s/capital.com/amp/cury-currys-share-price-double |
Indeed... McGill's seem to be growing by acquisition in Scotland as they previously took over the Dundee operation of National Express .... |
Odd there has been no announcement, but First are disposing of two Scottish subsidiaries, Midland Bluebird and West Lothian. McGills take over on 19 September.
This leaves First with Glasgow (huge) and Aberdeen. |
FirstGroup suitor walks away from £1.3bn-plus deal but leaves door open for possible return to negotiating table |
So much for that ... RNS out for 'No intention to make an offer for FirstGroup plc'. |
Indeed .... subsequently Berenberg's target price has been raised to 160p from 150p. |
Not long until 5pm on 18th August ...FirstGroup's value highlighted by Berenberg as bid deadline nearshttps://www.proactiveinvestors.co.uk/companies/news/989606/firstgroup-s-value-highlighted-by-berenberg-as-bid-deadline-nears-989606.html |
Cuts coming across the country |
Shares of @FirstGroupplc up another 4% amid mix of bid speculation and broker comment. Talk of private equity interest at 150p a share. As it happens, Berenberg has put out a positive note with a price target of 150p. Also vague talk that National Express could be interested. |
Revisiting that SQZ is 240 and FGP remains at 101.
Will look at FGP again around Easter time. |
I sold at 101 and bought SQZ which had fallen to 181. I figured that FGP would not rise much higher until well into 2022. |
Anyone tendering their holdings?
Haven't decided yet but minded to do so. This company is too errorprone to be a comfortable hold!
Has ChronicInvestor got a view? |
PEEL HUNT RAISES RPS GROUP PRICE TARGET TO 138 (121) PENCE - 'BUY' |
Generous tender offer announced at £1.05 a share implying board confidence that this is undervalued. happy long term holder as positive momentum should continue now that Greyhound is gone and the government announcements on public transport investment. Sector consolidation likely too. This is a great sector for 2022 and beyond IMO |
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