I THOUGHT THIS SOUNDED FAMILIAR

Investors Chronicle - FirstGroup off the rails
Guess who that is?

A weak UK bus business and a switch to a less lucrative extension on its TransPennine rail franchise hammered half-year profits at FirstGroup (FGP). But it's the uncertainty surrounding the West Coast franchise and future rail tendering that has really put a spanner in the works and meant no increase in the half-year dividend. That puts management's promise to grow the payout by 7 per a year at risk and increases the chance of a big cut next year. We'll have to wait until May to find out.