Mobico Initiates Sale of North American Bus Business to Reduce Debt
The transport giant reports a 24% rise in half-year profit as it aims to cut its £1.2bn debt and achieve £205m annual profit.
- Mobico's shares rose by 14% following the sale announcement of its North American school bus division.
- The company reported a near 24% increase in half-year operating profit, reaching £71.2m.
- Higher bus fares and increased passenger numbers contributed to a revenue boost in the UK.
- Mobico aims to address its £1.2bn debt with new initiatives in the second half of 2024.
- The North American bus business, despite challenges, made a £21.4m adjusted operating profit in the first half of the year.
The Guardian 
Evening Standard 
Reuters 