‘Nothing ruled out’ as First’s bus profits slide

Chief executive Tim O’Toole says profit margins at some of the group’s regional bus operations ‘are simply unsustainable’ and action is required
 
UK Bus operating profit margins have fallen to 3.2%
 
FirstGroup has instructed all its UK bus businesses to draw up and accelerate plans to cut costs and revise timetables in a bid to counter the division’s rock bottom profitability. Changes will include service cuts in loss-making and low profit areas so that