First Group has announced a £90million uptick in revenue as it continues to electrify its fleet and cracks the London bus market.
Posting its full year results for the 52 weeks to March 29 2025 this morning, First Group confirmed its adjusted of £1.37billion, up from just under £1.28billion in 2024, reflecting "strong underlying First Bus performance".
The group's adjusted operating profit rose from £204.3million in 2024 to £222.8million this year, with First Bus' figures specifically up £12.4million to £96million.
The figures come amid "significant investment in growth diversification and decarbonisation", with First Group acquiring RATP London for £90million with an approximate 12% share of the London Bus market.
Chief executive officer Graham Sutherland said: "I am pleased to report another positive set of results for our 2025 financial year.
"We have further strengthened our businesses and continued to deliver against our strategy, including growing and diversifying our earnings in both First Bus and First Rail.
"This leaves us well placed to at least maintain our adjusted earnings per share in FY 2026, from a stronger base, as we continue to successfully navigate a period of transition in bus and rail in the UK.
"Our focus remains on operational excellence and the disciplined deployment of capital to maintain our accelerated investment in decarbonisation and continuing to build a diverse, sustainable earnings base, while returning any excess capital to shareholders."
A total of 1,115 of First's buses are now electric, approximately 20% of its fleet.
FTSE 100
The UK's flagship share index, the FTSE 100, was up 28 points at 8,865 shortly after opening this morning.
Brent crude oil futures were up 0.13% at $67.17 a barrel.
Companies reporting today
FirstGroup - Full Year Results
Oxford Instruments - Full Year Results
Safestore Holdings - Half Year Results
TSMC - Corporate Sales Release