Date: 31/05/2018

FirstGroup chief executive Tim O^Toole has stepped down with ^immediate effect^, after the bus and train operator reported a huge full-year loss.

The company, which owns Great Western Railway (GWR), said it lost £327m in the year to 31 March, compared with a profit of £152.6m last year.

The group^s chairman said the results ^fell short of our ambitions^.

FirstGroup shares are down by about 12% following the announcements.

Apart from Great Western Railway, the group also runs South Western Railway (SWR), the Heathrow Airport Connect service and First Bus in the UK, as well as the Greyhound bus business in the US. It employs about 100,000 people.

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FirstGroup boss departs after £327m loss

BBC News

The bus and train operator says the annual results 'fell short' of its ambitions.

Related images

GWR 800 031 taking the line to Oxford on diesel power at Didcot on 8th March 2018. I didn't see any Class 180 Adelantes on this visit and so I assume the Class 800s have taken over their duties and are now travelling as far as Worcester and perhaps Hereford.
Location: Didcot Parkway
Company: Great Western Railway
08/03/2018 Peter Todd

The 0947 First TransPennine service to Liverpool Lime Street boarding at Scarborough station platform 4 on the morning of 3 April 2008.
Location: Scarborough
Company: York to Scarborough Line (York and North Midland Railway)
03/04/2008 John Furnevel

Contrasting front ends at Windsor and Eton Riverside on 27th January 2018, with 458522 and 707013 at the buffers. These two classes of five-car EMUs appear to be working turn and turn about on these London South Western services.
Location: Windsor and Eton Riverside
Company: Windsor, Staines and South Western (Richmond to Windsor) Railway
27/01/2018 Mark Bartlett

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Tags: x GWR