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Every single time these shares look like they're making a bit of progress the following week they're back to where they were. And what happened with the share buy-back that was supposed to give the SP a bit of a boost - nothing!
HSBC cuts FirstGroup price target to 100 (150) pence - 'hold'
Another example of that 'Shareholder value' they keep telling us about!
And wouldn't the offer have been equal to about 160 per share? It's hard to see how this share will ever get to 160 under its own steam.
Absolutely should have, but all the useless management do is to keep going on about increasing 'Shareholder value'. What shareholder value?
I wonder why Coast have decided to sell up? Do they reckon £1.05 is as good as its going to get for the foreseeable future?
I cant complain too much (I cant complain at all really!) as I only have 5,500 and almost half of those were bought for 28p each. And as they were done through a profit related pay scheme when FGP took over GMBuses those who bought the shares paid less income tax and so they were in effect free.
But wern't the lows of last year all down to the covid panic, prior to that was over £1. And is all the recovery from last years low simply all down to the fact they sold off their USA interests might the SP not have been on the way up anyway.
So where's the 41p per share or whatever it was?
FGP really are pathetic. They come up with some scheme to give back money to shareholder's weeks ago but cant be bothered to explain how it's going to work. But hey what's new, this is typical of them.
When are FGP going to get around to actually telling us how this is all going to work, let alone implementing it?
I must admit I don't understand any of this. Is it a common thing to happen, have many other companies done this and if so what has been the outcome?
Share price will fall by the amount of the dividend this is how it works. If the dividend is 30p the share price will fall by around 30p.
FGP certainly have a proven track record of making bad decisions.
Haven't FGP pulled out of most if not all of Greater Mcr?
By about 30p I suppose, but knowing FGP probably more like 50p!!
Stagecoach strike me as being a company who know what they are doing and where they are going. Firstgroup strike me as a being a company who make things up as they go along and haven't a clue where they are going. Holder since the 90s BTW!
For the past several months the SP of FGP and SGC have been pretty much the same. Now SGC is beginning to pull away and as the brokers have now set a target of 125p will probably pull away even more. FGP are just a waste of space.
Who has been running Greyhound for the last 12 years, not a couple of years but 12 years. Any problems with Greyhound can only be laid at the door of one organisation and that is First.
There was a article in yesterdays Daily Telegraph about Greyhound. I can't read the full article because I don't subscribe but under the headline 'FirstGroup facing a crisis in North America' it starts off:
Insurers have cast new doubt over the value of FirstGroup’s American bus network Greyhound, demanding it pay up to three times as much excess as rivals.
The operator must now cover the first $15m (£12m) of any claim, reflecting underwriters’ fears about the age and state of repair of the Greyhound fleet, industry sources said. The scale of the increase is understood to be unique among US bus companies.
What a mess the clueless BOD have made of the company, they've virtually wrecked it.
So how long should the BOD be allowed then. They've been at it now six years with nothing to show except no dividend, the share price decimated and rail franchises they've bid for making a loss. And BTW it's the share holders that own the company not the BOD!