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Their family legacy belongs to the creditors now lol

The CEO of FirstGroup managed to work around inflation and interest rates!

Our CEO pays out 35m dividends knowing full well COVID payments were being taken away!

Why would they short MCG for 10p gain when you can short tech companies to make millions.

They own a farm?

Thanks.

Where did you see this?

I forgot about the £40m in year saving for 2024 so it might not be as bad.

What's everyone's expectation for final results. (God knows when they will be released this year)

What we know so far:

Guidance of 185m - 205m EBIT

Interest - £90m

Hybrid bond dividend - £21.3m

Tax - £20-30m

Tangibles - £35m

CanaryBus acquisition - £41.6m

Cash outflow for Germany - £30m

If we achieve 200m EBIT we are at -37.9m loss for FY24.

Correct me if I am wrong on anything.

The £30m outflow for Germany in 2024 is from the 2023 year end results. How was it booked in 2023? You are confusing it with the £99 provision made in 2023.

The German Onerous contract provision will result in cash outflow of £30m in FY24 and £11m per annum till 2033. German results will be horrible for this year.

Share price going down for 2 months straight now even in days like today where ftse is up 1.5%.

This is the guardian article I got it from at the bottom you will see the rights issue.

https://www.theguardian.com/uk/2009/oct/19/national-express-stagecoach-merger

"National Express repeated its preference to proceed with fundraising, which it plans to complete by the end of the year, to help ease its £1bn debt. The group added that it would look at Stagecoach's proposal to see whether this provided a better alternative.

John Devaney, National Express's chairman, plans to repair the business's balance sheet with a £400m heavily discounted rights issue."

They tried to sell the school bus to bring down leverage back in 2009 and it didn’t go through so they did a rights issue with 70% discount. I believe we might heading in the same direction again.

Has anyone contacted IR regarding NA bus sale? “In due course” Was 2 months ago now, we deserve an update.

They're profit taking because they know it won't go lower much more.

Marshall Wace down 0.01%, rerate incoming!

Qube up 0.15% on Friday.