Trouble at FirstGroup's bus division has hogged the headlines, so it's a relief to hear that the transport group is doing better elsewhere. Both its rail operations and American coach service Greyhound beat expectations and management remain committed to dividend growth of 7 per cent. Still, plenty of banana skins litter both tarmac and track.
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Falling profits at First Student and UK Bus, and an extra £32m for fuel, cut adjusted operating profit by six per cent to £428m. Higher bus fares failed to offset rising fuel costs, weakness in its northern heartland and lower government subsidies. FirstGroup must sell assets here, and, to be fair, it's had some success.