Unlike the keenly focused Stagecoach and Go-Ahead, the First Group has a reputation for resting on it's laurels, and whilst paying out big juicy dividends quietly sweeping all it's problems under the carpet. I feel with new more aware management and an unrealistic low share price now is a good time to invest in this company. However as part of it's efforts to sell off the 'dead wood' it has sold off it's Wigan buses. Analysts were alarmed as not only was it hardly a small unit it made First a good 1.5m profit last year. The response was that it was isolated from the rest of the network and had to go.....Hardly!
Wigan Corportation was one of Leyland's most loyal customers, and when taken over by Greater Manchester PTE in 1974 the tradition continued with the majority being improved AN68 Atlanteans like ANA649Y with Northern Counties bodywork built in the town.
Posts
No comments:
Post a Comment