Avanti West Coast operator FirstGroup has said trading has been on track (Avanti West Coast/PA)Transport giant FirstGroup said recent trading has been on track as it revealed plans to hand £500 million back to shareholders. In an update on Monday, FirstGroup chairman David Martin also said that trading has been “in line with our expectations year to date” as the firm continues its post-Covid recovery. His departure came just a day after Coast Capital, the group’s biggest shareholder, called for his resignation. “The vital role of public transport is clear and the policy backdrop has never been more supportive. “With a well-capitalised balance sheet and an operating model that will support an attractive dividend for shareholders commencing in 2022, I am confident that FirstGroup is well-placed to deliver sustainable value creation as a focused UK public transport leader.”Shares in FirstGroup were 3.3% higher at 89.35p in early trading on Monday.

Source: Irish Independent September 13, 2021 10:07 UTC