<https://www.bbc.co.uk/news/uk-england-bristol-61796109>
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Graeme Wall
This account not read.

In message <t89skg$ai$1@dont-email.me>, at 12:49:36 on Tue, 14 Jun 2022,
Graeme Wall <rail@greywall.demon.co.uk> remarked:

><https://www.bbc.co.uk/news/uk-england-bristol-61796109>

In the nick of time. Let's see what happens to the customer-first
experience later in the month (they dodged a bullet there for the RMT
action on the 25th June).
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Roland Perry

Graeme Wall <rail@greywall.demon.co.uk> wrote:
> <https://www.bbc.co.uk/news/uk-england-bristol-61796109>

From
<https://www.thetimes.co.uk/article/7fc26684-ebfd-11ec-b47a-cf598c451bbb?shareToken=a442241f7eef98acc2767519903320a4>

David Martin, FirstGroup’s interim executive chairman, said that most of
the “heavy lifting on restructuring has been done. We are on a new
trajectory.” Years of problems, followed by trouble with rail franchises,
and then the pandemic, meant FirstGroup has not paid a dividend for ten
years.

He said yesterday’s final dividend, of 1.1p a share, should be seen as an
“important milestone for stakeholders”.

The GWR franchise extension awarded to FirstGroup, with a possible three
years after that, provides a fixed management fee and performance-based
incentives up to £17.8 million.

“The group will face no revenue risk and minimal cost risk,” Gerald Khoo,
an analyst at Liberum, said. “FirstGroup is uniquely positioned to benefit
from positive structural changes in both the UK bus and rail industries.
The exit from the US has refocused the group and reset its balance sheet.”