July 8, 2020 / 6:24 AM / a month ago

FirstGroup flags going concern doubts after posting annual operating loss

July 8 (Reuters) - UK-based bus and rail operator FirstGroup on Wednesday warned on its ability to continue as a going concern, after posting an annual operating loss as passenger volumes plummeted due to the coronavirus crisis.

FirstGroup, which normally ferries millions of passengers in buses and trains, said operating loss for the year ended March 31 was 153 million pounds ($191.89 million), compared with a profit of 9.8 million pounds last year, hurt by charges related to the pandemic and its Greyhound unit. ($1 = 0.7973 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika Syamnath)

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