Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Vodafone, Three UK Dismiss National Security Concerns in Proposed Merger
Today at 05:59
Vodafone Group (VOD.L) and CK Hutchison's Three UK mobile network do not see any national security risks arising from their proposed merger as they are working in collaboration with the British government to ensure the highest levels of security
FGP has actioned December plan supporting the share price from collapsing with share buyback after the predicted lose of TPE contract. Fridays buyback stood at 497,695, expecting similar numbers for todays buyback and also for the next few days, will trade next week when the share price will fall to around 107 in my estimation, it is my opinion.
Yesterday share buy back was 511 thousands and the day before losing the TPE contract 445 thousands, a lot questions from market must be answered by the management, form strike resolution to poor planning a head which lead to losing a contact which generated 14.9 million operating profit. I can see changes at the top in the near future.
The DFT pulling the plug was expected. FGP board warned time and time again about the public anger and the must do better, now they have to face the music and the huge problems a head, very sloppy management took their eyes off the ball pi**ing around with Arriva and Europe. I think once the buy back ends then we will see the real share value, for the time being I am staying out of investing in FGP.
FIRSTGROUP PLC - Statement on TransPennine Contract
11/05/2023 7:31am
PR Newswire (US)
Firstgroup (LSE:FGP)
Intraday Stock Chart
Thursday 11 May 2023
Click Here for more Firstgroup Charts.
FIRSTGROUP PLC
STATEMENT ON TRANSPENNINE EXPRESS CONTRACT
FirstGroup plc (‘the Group’) today announces that it has been notified by the Department for Transport (‘DfT’) that it will not exercise its option to extend the current arrangements for the TransPennine Express (‘TPE’) National Rail Contract.
The DfT will appoint its Operator of Last Resort to take over delivery of passenger services on the TPE network from 28 May 2023 when the existing agreement expires. The DfT’s decision regarding the TPE National Rail Contract extension relates only to TPE and the Group’s other rail businesses are not affected.
For a sustained period during the first year of the current contract, TPE posted its best performance results for a decade. However, in 2022 TPE’s service levels declined due to circumstances not wholly within the operator’s control, mainly the challenging industrial relations environment including the withdrawal of longstanding industry-standard overtime arrangements while undertaking unprecedented driver training requirements due to infrastructure upgrades. Following the introduction of an agreed recovery plan in February 2023, cancellations have fallen by approximately 40% and will continue to do so as more drivers become available over the next few months.
The Group is disappointed by the decision not to extend the National Rail Contract for TPE, given the investment and improvements we have made to the service over the years, which resulted in growing annual passenger numbers from 14m in 2004 to more than 29m before the pandemic.
Commenting, Graham Sutherland, FirstGroup Chief Executive Officer said:
“We have operated TransPennine Express and its forerunners since 2004, and are very proud to have served the communities across northern England and into Scotland, carrying millions of passengers and introducing new trains, new routes and more seats for our customers. Our team have worked extremely hard to improve services, including by recruiting and training more drivers than ever before. We have also worked closely with the DfT and Transport for the North on an agreed recovery plan as well as an improved offer on overtime working for our drivers.
“FirstGroup is a leading UK rail operator with a strong and diversified portfolio. Today’s decision does not alter our belief in the important role of private rail operators in the delivery of vital, environmentally-friendly transport for customers and communities across the UK.”
Notes to Editors
In FY 2022, TPE contributed £415.8m of revenue to the Group’s total of £4,591.1m; £13.2m of adjusted operating profit and £8.9m of attributable net income, which is the Group’s share of the relevant net post-tax fee income available for intra-company distribution.
Share buy back, have a look at ADVFN and you will have an accurate buy back numbers by FGP, my personal take is to wait few more days when it will be done and dusted. I hope by then the price will be near 122 mark.
From the Guardian( TransPennine Express trains had the worst performance of any rail operator in the UK in March, with almost 1,000 trains fully or partly cancelled.
The train operator is owned by the First Group and its contract is due for renewal on 28 May, but MPs and metro mayors have called on the government to take TPE back into public ownership). For the time being I will set and watch.
I think the cause for the rise is the DOT soon to make a decision on the TPE contract renewal.
Hell's bells, you get more chin wag at highgate cemetery than on this chat board! where are the wise words, thoughts of direction fgp head to, lively disscution ,,,,,,,, share price stagnation no wonder!
Anyone know why FGP share price took a nasty dive today?
Well done FGP, two years extension granted by the government for the south western rail. I am looking forward to the next earning update.
FGP, more to come just watch the next earning update.
Here is the link to the June take over bid you mentioned. Squared Capital in my reading has already came back with a higher price which may will be negotiated at present!
Watch the next upward price movement. I do not like to put a number but I am happy to hold. FGP is ripe for picking at a good price!
Standard charter is a target for a takeover by a UAE bank, EZY is a target for a takeover by IAG. RMG is a target for a takeover by a 23% share holder. I honestly believe FGP takeover bid is coming soon!