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FirstGroup upgrades profit outlook following 'stronger than expected' performance

FirstGroup plc updated (15-Sep-2020) its profit outlook, stating it "is now expecting to generate a small adjusted operating profit in the seasonally weaker first half of the financial year". The transport company cited "stronger than expected financial performance" on all divisions between between 01-Apr-2020 and 31-Aug-2020, adding it has signed emergency measures agreement (EMA) with UK's Department for Transport for its Great Western Railway franchise. The group is negotiating with the UK Government to sign EMAs for "other three rail franchises which were already on established franchise agreements" in response to the outbreak of COVID-19. [more - original PR]

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