Gilbert tipped to leave FirstGroup
Goldman Sachs and JP Morgan are believed to be working on a big fund raising to help pay down a £2 billion debt pile.
Gilbert is poised to leave the company he has chaired since its formation in 1995.
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Hide AdThe company held its interim dividend and there is talk of the final payout being similarly held or even halved.
Pre-tax profits at Britain’s biggest bus operator, which last year announced a £160 million investment in buying buses, are expected to be well down on last year’s £271.4m. Investec forecasts £170m, despite a predicted rise in revenues.
Revenues on its buses rose by 2.4 per cent in its final quarter to 31 March, up from third quarter growth of 2.1 per cent.