FirstGroup: Just this week the Aberdeen-based train company won the TransPennine Express (TPE) rail franchise in a joint bid with French giant Keolis.
This is a coup and will augur well for the company as it prepares to bid for the ScotRail, Northern and Greater Anglia franchises.
The words of praise for the successful TPE bid from Richard Bowker, the Strategic Rail Authority chairman, will have given confidence for the franchise battles ahead.
The company’s shares perked up on the news, finishing the week up a few pence at 273p, near the 52-week high of 277p and way above the year’s low of 200p. FirstGroup is also understood to be considering a stock-market listing in New York in the future.
FirstGroup wasted no time in revealing a £260m investment plan for TPE, including faster trains, a new timetable, and the renovation of 30 stations. Clearly a company enjoying itself. Sharewatch