Feb. 27, 2018
First Group warned investors in UK that revenues at Greyhound/North America are down, resulting in a 13% drop in its share price. It is now below $1 a share. Routes are being cut in British Columbia, Canada. Revenues from its Greyhound long-haul coaches were down nearly 3% as it struggled to compete with airlines and other carriers. Shares in First Group, which runs yellow school buses and Greyhound coaches in the United States, shed 11 percent of their value, one of the biggest losers on Britain’s mid-cap index. It also cited problems in recruiting drivers for both its Greyhound and school bus operations in North America, due to the strong employment market.