TRANSPORT specialist FirstGroup shrugged off economic gloom in the UK and U.S. today as it disclosed its interim turnover had nudged past £1 billion.
The group, which runs trains and buses in the UK and student transportation in the U.S. and Canada, saw sales rise in all its core divisions.
The group has been rocked in the past by disruption from the foot-and-mouth outbreak, the Hatfield rail crash and the collapse of Railtrack.
The weak economic climate has also been a factor, with rising unemployment in London threatening its commuter franchise First Great Eastern.
But today FirstGroup said turnover for the six months to September 30 had sparked seven per cent, taking it to £1.07 billion.
Operating profits before one-off costs nudged up one per cent, to £84.4 million.
Chief executive Moir Lockhead said: "This is a strong set of results against a difficult economic background in the UK and U.S.
"The performance of all of our businesses has been encouraging."
In its rail division, turnover increased six per cent to £385.4 million. Passenger volumes on First Great Western and First Great Eastern jumped four per cent.
Updated: 12:02 Wednesday, November 06, 2002
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