FirstGroup fourth quarter in line; to cut number of trading updates

FirstGroup confirmed its overall results for the fourth quarter were in line with management’s expectations as it announced a reduction in the number of trading updates it publishes in light of changes in regulatory requirements and market practice.

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The FTSE 250 transport operator has decided to stop publishing trading updates around the end of its March and September trading periods.

Following discussions with a number of its shareholders and other stakeholders, FirstGroup plans to continue publishing updates on trading after the end of the first and third quarters each financial year, in addition to its full year and half-yearly results.

This means that from its 2016/17 onwards, the company will issue four trading updates, down from six previously.

FirstGroup also said on Thursday that there have been no significant developments since the release of its third quarter trading update on 28 January.

FirstGroup is due to release its full year results on 14 June.