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Canadian activist West Face declares stake in Britain's FirstGroup

Reuters - UK Focus

LONDON, June 1 (Reuters) - Canadian activist investor West Face Capital on Thursday disclosed a 5 percent stake in FirstGroup (LSE: FGP.L - news) after the British transport company's shares fell more than 5 percent.

FirstGroup on Thursday reported a 23 percent rise in annual profit, helped by better performance from its U.S. business, but a cautious outlook and a decision not to pay a dividend sent its shares into retreat.

Toronto-based West Face has previously taken stakes in companies such as Maple Leaf Foods (Frankfurt: 895302 - news) and SNC (Shenzhen: 002246.SZ - news) -Lavalin Group.

(Reporting by Simon Jessop and Maiya Keidan; Editing by David Goodman)