FirstGroup in £109m asset sale; Unveils contract wins

(Sharecast News) - FirstGroup has agreed to sell five West Yorkshire depots and 330 buses to the West Yorkshire Combined Authority for £109m, generating an expected post-tax gain of about £30m and cash proceeds of around £55m in FY27. The phased fleet transfer will coincide with the rollout of bus franchising. The depot sales have completed, while fleet transfers will occur as franchising is introduced between 2027 and 2028.

Separately, the group has won two West Yorkshire franchise contracts covering Leeds Bramley and Huddersfield. The five-year deals, which start in May 2027, are expected to generate around £40m of annual revenue.

The contracts are due to begin in May 2027, run for an initial five years with a potential two-year extension

Reporting by Frank Prenesti for Sharecast.com