Shares of First Group Plc plummet around 20% on Thursday (November 14)

  • Nov 14, 2019 GMT
  • Team Kalkine
  • FTSE 250 constituent stock First Group Plc (LON: FGP) tumbled 20.73% to GBX 102.50 at the London Stock Exchange (before the market close, at 02:37 PM GMT), as the group reported operating loss of £118.1m in the H1FY20 against the profit of £46.3m in the same period of the corresponding financial year.
  • Loss per share soared substantially from 0.6p to 14.3p in the first half of FY20, including the Greyhound impairment charge of £124.4m, North American self-insurance reserve charge of £59.3m and restructuring and reorganisation costs of £15.4m, respectively.

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

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