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Investment case

A strong foundation for sustainable value accretive growth:


  • Our significant experience and proven expertise in bus and rail, and contribution to the UK's societal and environmental goals
  • Digital innovation is enabling us to attract more customers and enhance business efficiency, flexibility and profitability
  • First Bus continues to drive operational improvements and grow in attractive markets
  • The electrification of the First Bus fleet and infrastructure is reducing operating costs and unlocking adjacent earnings streams
  • First Rail is expanding in open access and participating in other contract opportunities, where we can apply our deep sector expertise 
  • Our commitment to progressive shareholder dividends and return of surplus cash to shareholders
  • Our strong balance sheet provides scope for growth and diversification in UK bus and rail markets, underpinned by our disciplined capital allocation policy

 

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