First bullish on UK Bus

Announcing its pre-close trading update for the first half of 2014/15, for the six months to 30 September, FirstGroup is positive about UK Bus where its “transformation programme continues to progress in line with our expectations.”

Like-for-like passenger revenue and passenger volumes are expected to increase by 2.1% in the first half, with mixed local economic conditions across its portfolio in the period.

“Our programme of major network redesigns and selected fare rebasing throughout the business has now been completed, and our more locally-based management structure is now fully in place to ensure that our commercial proposition is more agile and responsive to the challenges and opportunities arising from the changing needs of our local communities.”