2019 AGM STATEMENT
FirstGroup plc ('FirstGroup', the 'Group'), a leading provider of transport services in North America and the UK, will be holding its Annual General Meeting (‘AGM’) at 2.30pm today.
Ahead of the meeting, FirstGroup notes that overall trading performance in the first quarter has been in line and there is no change to our expectations for the current financial year.
The Group is focused on delivering the strategy announced on 30 May at pace. By executing the announced portfolio rationalisation plans our future emphasis will be on the Group’s core contracting businesses in North America, where we see significant potential to generate long term, sustainable value. In parallel with these plans, we continue to drive forward the clear strategies set for each of our divisions. By doing so the Group will achieve further progress and growth for shareholders, while delivering on our promises to our customers, passengers and other stakeholders.
As previously announced, Wolfhart Hauser will step down from the Board and as Chairman at the end of the AGM today, and Senior Independent Director David Robbie will become interim Chairman of the Board at that time. A formal and rigorous process to select a new Chairman in accordance with UK Corporate Governance Code principles is well underway, overseen by David Robbie. The Board is clear that the priority is to complete this process without delay, while selecting a candidate with the necessary skills and experience to serve effectively in the interests of all shareholders. The Group has consulted with major shareholders to hear their views and suggestions, and looks forward to updating the market of a satisfactory outcome at the earliest opportunity.
The Group is scheduled to announce interim results for the six months to the end of September on Thursday 14 November 2019.
Contacts at FirstGroup:
Faisal Tabbah, Head of Investor Relations
Stuart Butchers, Group Head of Media
Tel: +44 (0) 20 7725 3354
Contacts at Brunswick PR:
Andrew Porter / Alison Lea, Tel: +44 (0) 20 7404 5959
Legal Entity Identifier (LEI): 549300DEJZCPWA4HKM93. Classification as per DTR 6 Annex 1R: 3.1.
Certain statements included or incorporated by reference within this document may constitute ‘forward-looking statements’ with respect to the business, strategy and plans of the Group and our current goals, assumptions and expectations relating to our future financial condition, performance and results. By their nature, forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors that cause actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Shareholders are cautioned not to place undue reliance on the forward-looking statements. Except as required by the UK Listing Rules and applicable law, the Group does not undertake any obligation to update or change any forward-looking statements to reflect events occurring after the date of this document.
FirstGroup plc (LSE:FGP.L) is a leading provider of transport services in the UK and North America. With £7.1 billion in revenue and around 100,000 employees, we transported 2.2 billion passengers last year. Whether for business, education, health, social or recreation – we get our customers where they want to be, when they want to be there. We create solutions that reduce complexity, making travel smoother and life easier.
We provide easy and convenient mobility, improving quality of life by connecting people and communities.
Each of our five divisions is a leader in its field: In North America, First Student is the largest provider of home-to-school student transportation with a fleet of 42,500 yellow school buses, First Transit is one of the largest providers of outsourced transit management and contracting services, while Greyhound is the only nationwide operator of scheduled intercity coaches. In the UK, First Bus is one of Britain's largest bus companies with 1.6 million passengers a day, and First Rail is one of the country's largest and most experienced rail operators, carrying 345 million passengers last year.
Visit our website at www.firstgroupplc.com and follow us @firstgroupplc on Twitter.