Full Year 2019 FirstGroup PLC Earnings and Strategy Update Call Transcript
Good morning, everybody. Thank you very much for joining us here today. This morning we're going to take you through our full year results, and I'll be taking you through an update on our strategy.
The headlines. Our clear divisional strategies have delivered better business performance this year. Student has delivered revenue and fleet growth alongside margin progression, Transit winning additional business in the more exciting areas of the mobility market, Greyhound is responding to our improvement plans, First Bus has delivered revenue and profit growth with margin strongly ahead and Rail has generated GBP 70 million of profit driven by Great Western Railway, although we have taken an accounting provision for South Western Railway given the uncertainty around that contract.
So overall, we produced strong revenue, adjusted profit and EPS growth in the year ahead of our expectations and we've also generated substantial cash and reduced leverage.
You'll have seen that alongside our results, I've also put forward a
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