First Group profits on track

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First Group has lifted half-year profits by 14 per cent after benefiting from improved trends in its UK bus and train businesses.

The transport giant was also assisted by signs of recovery at its Greyhound intercity coach division, although its American operation running a fleet of 60,000 yellow school buses saw a fall in profits.

Underlying pre-tax profits at the group rose to £77.7m for the six months to 30 September. FirstGroup said it had made good progress in reducing debt, which stood at £2.2bn.