You my recall that I sold my holding in the bus and rail company FirstGroup (FGP) about three months ago after it had announced that it was selling its US business at a decent - but not too exciting - price. It was certainly time to book a small profit and move on. A month or so later I was observing that a UK National Rail Contracts agreement may have also helped keep its day-to-day bus and rail business going, but its ability to make reasonable continuing profits over the next few years was pretty limited. Clearly that all continues as whilst it may be the so-called ‘Freedom Day’, life is a little bit different.
Did you see the big deal involving FirstGroup (FGP) - the bus and rain operator - whose shares are back to a level last seen in early March 2020 following their sale of two North American bus businesses (First Student and First Transit) to Swedish-based private equity group EQT Infrastructure for £3.3 billion? That is kind of interesting given here, back in September last year, the key was observing that ‘it is remarkable what a load of subsidies and a bit of cost control can do’ in terms of a share price that has doubled since.