According to Jacobs (2012) the European market operates with a negative sign, as risk aversion has been reactivated after Standard & Poor's warned that Greece may have to restructure its debt again. Retailers such as Marks & Spencer Group, Next and Kingfisher are down on the FTSE 100 Index, just as FirstGroup, which collapsed. Tim O'Toole Chief Executive has pointed out that not considers opportunities for growth for 2012 and 2013 on the industry sales of buses in the UK. According to Jacobs (2012) Last week First Group Company recorded its worst day on the FTSE 100 Index since 2009, falls of shares exceeded 13%, after recognizing the difficult conditions still has its business as a result of the economic crisis. FirstGroup plc drags more than 3% in London stock exchange to other bus companies such as Stagecoach and National Express Group. Nowadays, First Group plc is struggling to raise rates at a time when the cost of fuel has soared, cited by Jacobs (2012).
It can be a difficult time for the British economy and First Group, but the good thing is that at least consumers tend to be more aware and more sober as a final result.
BIBLIOGRAPHY
Journal
· Jacobs, R. (2012) “ First Group Warns on UK Bus Margins” Financial Times, p 22.
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