FirstGroup Pretax Profit Falls 86.7%

FirstGroup PLC FGROY reported an 86.7% drop in its pretax profit in year to March 31. FirstGroup's revenue for the year rose 3.3% to GBP6.9 billion from GBP6.68 billion in the year-ago period, while its profit before tax dropped 86.7% to GBP37.2 million from GBP279.9 million. Its adjusted pretax profit fell 36.5% to GBP172.4 million from GBP271.4 million, while adjusted operating profit tumbled 21.7% to GBP335.4 million from GBP428.5 million. FirstGroup's adjusted EPS declined 32.7% to 26.9 pence from 40.0 pence.