8th Jul 2020 18:07
(Alliance News) - FirstGroup PLC on Wednesday said Chair David Martin acquired shares after the public transport firm issued a surprise profit warning earlier in the day.
Dan Hall, a person closely associated with Martin acquired 100,000 shares at 41 pence each on Wednesday. Martin's beneficial interest after the purchase was not disclosed.
Earlier on Wednesday, FirstGroup flagged doubts over its future amid the coronavirus pandemic as passenger numbers plunged and it slumped to a GBP300 million loss.
Shares in the bus and rail firm - which runs train franchises including South Western Railway and Avanti West Coast - plummeted after it revealed a "material uncertainty" over its ability to continue as a going concern. The company said passenger numbers across its UK and international services dropped by around 90% in March as countries were placed into lockdowns.
FirstGroup shares closed down 23% at 37.84 pence, by far the worst performer in the FTSE 250 on Wednesday.
By Arvind Bhunjun; [email protected]
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