Mobico Group ( (GB:MCG) ) has shared an announcement.
Mobico Group PLC reported a 2024 adjusted operating profit of £187.7 million, in line with market guidance, despite a statutory operating loss after tax of £793.8 million due to non-cash adjustments. The company announced the sale of its North American School Bus division for up to $608 million, a move aimed at reducing net debt and reallocating resources to more profitable segments like ALSA. This strategic divestment is expected to simplify Mobico’s portfolio and strengthen its financial position, enabling further growth and operational focus in its remaining divisions.
More about Mobico Group
Mobico Group PLC operates in the transportation industry, offering services such as regional and long-haul travel, school bus operations, and public transportation across various markets including the UK, Germany, North America, and international locations. The company focuses on strategic growth and operational improvements in its divisions, with a particular emphasis on reducing debt and leveraging opportunities in high-growth areas like ALSA.
YTD Price Performance: -56.09%
Average Trading Volume: 1,584,235
Technical Sentiment Signal: Strong Buy
Current Market Cap: £213.5M
See more data about MCG stock on TipRanks’ Stock Analysis page.