November 14, 2019 / 7:42 AM / a month ago

FirstGroup says in advanced talks for Greyhound sale, posts bigger loss

Nov 14 (Reuters) - British transport operator FirstGroup Plc said on Thursday it was in advanced talks with bidders for the sale of its iconic Greyhound bus line, but posted a bigger loss for the first half of the year due to a charge related to the business.

The company, which ferries millions of passengers in buses and trains, posted pretax loss of 187.1 million pounds ($239 million) for the six months ended Sept. 30, compared with a loss of 4.6 million pounds a year earlier.

The company said it booked an impairment charge of 124.4 million pounds related to Greyhound business the in the first-half of the year. ($1 = 0.7815 pounds) (Reporting by Yadarisa Shabong in Bengaluru Editing by Saumyadeb Chakrabarty)

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