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First Group is Looking Positive for UK Business Growth

In hard times it can sometimes be difficult to spot businesses that are actually doing quite well. I was encouraged recently to see that First Group, the major transport company operating out of Aberdeen in Scotland, has given a good report on its earnings for the first half of this trading year.

“Moderate earnings growth” was the message given in a report to the Stock Exchange, which bodes well for the results that will be released in November. The growth has largely been put down to various cost cutting measures that have been used in recent months. The company has also managed to increase revenues from passengers, which has had a similar effect on boosting the overall earnings of the company.

The company also has transport interests in the US, but it is heartening to see the company is doing well in the UK too. I have no doubt that the cost cutting measures have contributed to the increase in a big way, as the company has described the market in the UK at the moment as “challenging”. They are of course referring to the bus market, where there is a lot of competition.

I will be watching to see what the official report says when it is released in November. But until then this announcement is good news for those who have an interest in the company. It also sets a good example about how important it is to rein in the costs for any business, as this has a significant effect on the bottom line as well.

If you own a business and you would like professional tax advice of any kind, contact us here at St Matthew now.




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