FirstGroup shares accelerate after deal to terminate TransPennine contract
A look at the major movers on the London market on Tuesday
It may be a down day for the markets overall, but FirstGroup PLC (LON:FGHP ) has managed to travel in the right direction.
Its shares are up 2.11% or 1.55p to 75p after the transport group agreed to pay the Department for Transport a final £6mln to cancel its TransPennine Express railway franchise, taking the total it has paid to £48.5mln.
It said this was around £50m better than its last assumption.
The group has already given up the South Western Railway and West Coast Partnership franchises, with the pandemic cutting passenger numbers and leaving financial forecasts in tatters.
Underlying results are stated before exceptional and other items (see note 5) · Gross profit up £10.7m (31.3%) to £44.9m due to exceptional trading in Group Charter and Freight · Overall, the US contributed 39.6% to total Group gross profit · Underlying profit before tax of £11.6m, up £7.4m year on year (176.2%), driven by strong trading and cost saving measures · Statutory profit before tax of £8.4m · Basic EPS of 9.4p · Net cash (excluding JetCard cash) of £9.9m, from net debt of £6.9m at 31 January 2020 · Liquidity headroom of £24.4m, comprised of net cash (excluding JetCard cash), an undrawn RCF facility of £13.0m and £1.5m overdraft · Recommended final dividend of 1.6p per share (2020: 0.0p), making total of 2.4p per share for the whole year, up 33.3% on prior year (1.8p)
Air Partner firm Redline secures six business contracts
Primary tabs
11th May 2021
Including both UK and International customers, the agreements total £1m in revenues
Air Partner company and leading provider of global security solutions, Redline has secured six business contracts with UK and international customers, including airports, public transport operators, regulatory bodies and government agencies.
Four of the three agreements were renewals or extensions, including a three-year arrangement with Edinburgh Airport for the company’s x-ray threat image recognition training (TIRT) system. According to the firm, the screening technology can detect any threat, regardless of its size.
A two-year indenture was also set up with Teesside International for a digital security management system (SeMS), allowing managers to assess and identify risks in a constantly changing environment.
New Customers Bolster Air Partner s Jet Card Sales ainonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ainonline.com Daily Mail and Mail on Sunday newspapers.
Mega-rich charge up private jet cards as they plan a summer of international travel
In the US, sales and renewals were up 54 per cent, and deposits from new customers rose more than five-fold, to £300,000. (Getty Images)
The rich are preparing for a summer of international travel by charging up their private jet travel cards, according to one of the industry’s biggest players.
Air Partner said new UK customers have added £750,000 worth of deposits to their so-called JetCards with the company in February and March alone.
It also saw a 15 per cent rise in sales and renewals of JetCards year-on-year, the company said.