Mobico Group Q1 Group Revenues Rise; Sees Growth In FY24 Adj. Operating Profit

(RTTNews) - Transport operator Mobico Group Plc reported Monday that its first-quarter group revenues were 801.9 million pounds, up 3.5 percent from last year on a reported basis, and up 6.7 percent on a constant currency basis. The results reflected an overall Group performance that is in line with expectations.

For fiscal 2024, the company projects adjusted operating profit to be in the range 185 million pounds to 205 million pounds. In fiscal 2023, group adjusted operating profit was 168.6 million pounds.

In its trading update for the period January 1 to March 31, the company said ALSA delivered revenues of 285.7 million pounds, up 8.7 percent on a reported basis and 12.1 percent on a constant currency basis.

North America revenues edged down 0.8 percent from last year to 308.6 million pounds, while it grew 3.5 percent on a constant currency basis.

UK & Germany revenues were 207.6 million pounds, up 3.5 percent from the prior year, with 9.5 percent increase in UK, despite 8.6 percent drop in Germany.