FirstGroup to place some bus services up for sale

FirstGroup’s chief executive Tim O’Toole said a new management team is working on a plan to stimulate growth in the bus business.
By The Newsroom
Published 24th May 2012, 07:00 BST

This includes £160m of investment in 1,000 new vehicles and £4m refurbishment of mid-life vehicles.

It is also investing £27m in new ticketing technology, including a ‘touch-in, touch out’ contactless payment system using bank cards.

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“We have a very strong platform to grow in UK bus. The vast majority of our bus operations generate good growth and returns with opportunities to grow further,” said Mr O’Toole.

“However, there is scope to reposition our portfolio to concentrate on those areas with the greatest potential.”

FirstGroup has around 8,000 buses operating in 40 UK towns and cities, carrying 2.5 million passengers a day.