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    FGP   GB0003452173

FIRSTGROUP PLC

(FGP)
  Report
Delayed Quote. Delayed London Stock Exchange - 07/26 11:35:23 am
84.4 GBX   +2.74%
06:17aFTSE Down, UK-EU Conflict Likely to Limit Pound's Rise
DJ
05:07aFirstGroup's top shareholder demands CEO, two board members resign
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05:07aFirstGroup's top shareholder demands CEO, two board members resign
RE
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FirstGroup : Greyhound ends Canadian operations after nearly a century, hit by pandemic

05/13/2021 | 06:27pm EDT
Idle Greyhound buses are parked after the transportation company announced that it had permanently closed its service in Canada

TORONTO (Reuters) - Greyhound has permanently closed its services in Canada after nearly a century, the inter-city bus operator said on Thursday, as the COVID-19 pandemic dented demand for public transport.

The move is a blow to Canada's rural communities, which have relied on buses to connect them to larger towns. The company ended all services in western Canada in 2018 due to falling ridership in rural areas and increased competition.

"A full year without revenue has unfortunately made it impossible to continue operations," Stuart Kendrick, senior vice president of the firm, which is owned by British transport operator FirstGroup, said in a statement.

The move has no impact on Greyhound Lines Inc (USA), which is a separate entity from Greyhound Canada, and will continue to operate cross-border express services when the border reopens.

Greyhound, which started operations in Canada in 1929, said the federal and provincial governments had not extended needed investment in inter-city bus services. "Operations are not feasible absent of financial support," the statement added.

The federal government has been under pressure in recent years to better link rural towns to larger urban hubs as Greyhound cut back routes and airlines such as Air Canada and Onex Corp-owned Westjet canceled or paused service to remote areas.

Omar Alghabra, the federal transport minister, said he was disappointed by Greyhound Canada's closure.

"We know that many Canadians depend on this service," Alghabra said in a statement on Twitter, adding that the government will work with the provinces to address the gap in transportation left by the bus company.

(Reporting by Ankit Ajmera in Bengaluru and Moira Warburton in Toronto; Editing by Shounak Dasgupta and Cynthia Osterman)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA 0.44% 25.25 Delayed Quote.10.28%
FIRSTGROUP PLC 2.74% 84.4 Delayed Quote.11.01%
All news about FIRSTGROUP PLC
06:17aFTSE Down, UK-EU Conflict Likely to Limit Pound's Rise
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More news
Financials
Sales 2021 6 881 M 9 513 M 9 513 M
Net income 2021 -55,0 M -76,0 M -76,0 M
Net Debt 2021 2 479 M 3 428 M 3 428 M
P/E ratio 2021 92,7x
Yield 2021 -
Capitalization 1 000 M 1 382 M 1 382 M
EV / Sales 2021 0,51x
EV / Sales 2022 0,39x
Nbr of Employees 112 394
Free-Float 98,1%
Chart FIRSTGROUP PLC
Duration : Period :
FirstGroup plc Technical Analysis Chart | FGP | GB0003452173 | MarketScreener
Technical analysis trends FIRSTGROUP PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 82,15 GBX
Average target price 82,50 GBX
Spread / Average Target 0,43%
EPS Revisions
Managers and Directors
Matthew Gregory Chief Executive Officer, COO & Executive Director
Ryan Dirk Mangold Chief Financial Officer & Executive Director
David Robert Martin Non-Executive Chairman
Warwick Brady Independent Non-Executive Director
Martha Poulter Independent Non-Executive Director
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