FirstGroup (FGP)

Sector:

Commercial Transport

Index:

FTSE 250

133.30p
   
  • Change Today:
    -1.90p
  • 52 Week High: 187.70p
  • 52 Week Low: 133.10p
  • Currency: UK Pounds
  • Shares Issued: 615.47m
  • Volume: 1,581,365
  • Market Cap: £820.42m
  • RiskGrade: 282

Rail workers' union accepts offer from train operators

By Josh White

Date: Friday 24 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Relief from months of railway strikes and industrial action looked to be on the horizon on Friday, as members of the TSSA union accepted offers from train operators.
The union said the agreement covered pay, job security, and conditions, and was supported by a significant majority of members in an online ballot.

It said the two-year pay deal would provide a 5% increase, or a minimum of £1,750, in the first year, and a further 4% increase in the second year.

The agreement also included a commitment to no compulsory redundancies for employees within the grades directly affected by workforce changes until the end of 2024, and a voluntary redundancy scheme offering the terms set out under the RIRG Enabling Framework Agreement in 2021.

TSSA said the grades directly affected by the workforce changes would include all station-based grades, all on-board grades including catering and train crew, all administration grades, all fleet and engineering grades, and all revenue protection and train service controller grades.

The online ballot saw 80% of management grade and 60% of general grade members vote to accept the offers, representing an overall return of 57% of affected members voting.

"This is a clear decision from our members which will end our long-running dispute - something which could have happened months ago had it not been for government intransigence," said a TSSA spokesperson.

"The incredible resolve we have seen from our members has resulted in a significantly improved pay deal over two years, commitments for no compulsory redundancies, improved opportunities for redeployment, as well as full consultation over proposed reforms to ticket offices and any changes to terms and conditions.

"We will continue to hold the train companies and the government to account as we go forward because Britain needs a fully functioning rail network at the heart of our green industrial future, and as a means of rebuilding our economy in the wake of the Covid pandemic."

Despite the acceptance of the offers, TSSA said it was continuing to oppose the proposed closures of ticket offices.

The train companies involved in the agreement included Avanti West Coast; C2C; Chiltern Railways; CrossCountry; East Midlands Railway; Govia Thameslink Railway, including Southern, Thameslink, Great Northern and Gatwick Express; Greater Anglia, GWR; LNER; Northern Trains; South Eastern; South Western Railway; TransPennine Express; and West Midlands Trains.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

FirstGroup Market Data

Currency UK Pounds
Share Price 133.30p
Change Today -1.90p
% Change -1.41 %
52 Week High 187.70p
52 Week Low 133.10p
Volume 1,581,365
Shares Issued 615.47m
Market Cap £820.42m
RiskGrade 282

FirstGroup Star Ratings

Compare performance with the sector and the market.
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Key: vs Market vs Sector
Value
11.07% below the market average11.07% below the market average11.07% below the market average11.07% below the market average11.07% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Price Trend
25.34% below the market average25.34% below the market average25.34% below the market average25.34% below the market average25.34% below the market average
63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average
Income
62.25% above the market average62.25% above the market average62.25% above the market average62.25% above the market average62.25% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Growth
24.36% above the market average24.36% above the market average24.36% above the market average24.36% above the market average24.36% above the market average
9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average

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FirstGroup Dividends

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  Final Interim
Ex-Div 18-Jul-24 30-Nov-23
Paid 23-Aug-24 03-Jan-24
Amount 4.00p 1.50p

Trades for 31-Oct-2024

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16:55 291,031 @ 133.57p
16:35 970,885 @ 133.30p
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