First Group PLC was formed on the 20th of January 1989 after a ground breaking employee and management buyout of the Grampian Regional Transport Company, a local authority owned Bus Company employing some 600 staff and having a fleet of 228 buses. First Group PLC, First as it has become known, has grown at an astonishing pace within a relatively small time frame to become the UK’s leading transport operator. With recent strong market penetration in the North American market, First has moved on from such humble beginnings to become a one of the World’s leading independent passenger transportation companies moving some 2.5 billion passengers annually, employing in excess of 130000 staff and showing annual revenues exceeding 6 billion pounds.
Current key statistics
To highlight this phenomenal growth and continued resilient trading in a volatile and unpredictable economic climate, this section will highlight some key statistics obtained from the annual report.
• 31.4% increase in revenue.
• More than 90% contract retention in the North American First Student Market.
• More than 1 in 5 of local bus services in the UK are First Bus, moving 3 million passengers daily.
• 1 in 4 of the UK rail network delivering in excess of 280 million passengers annually.
• 60,000 Yellow school buses in North America and Canada transporting 4 million students daily.
• Moving in excess of 22 million passengers to over 3000 destinations using the Greyhound bus service in North America and Canada.
• Adjusted operating profit in excess of 497 million pounds.
• Less than 20% driver turnover in the UK bus sector.
• 325 million pound fleet investment to the UK bus sector leading to an 8 year average vehicle life span and lower operating costs.
These figures go some way to highlight the companies sustainable and strong business model. Utilising diverse revenue streams, some of which are listed below, ensures that in the current uncertain... [continues]
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