Troubled transport provider FirstGroup has received a welcome financial injection from the sale of three major properties by its inter-city Greyhound coach business in the US.

The Scottish company said it will reap a total profit of approximately £73 million from the trio of transactions. The cash proceeds will be used for "general corporate purposes".

The deals come as FirstGroup, along with the rest of the transportation industry, has struggled to cope with declining passenger numbers amid the coronavirus pandemic. Earlier this month, the train and bus operator reported a pre-tax loss of £100.1m for the six months to September 30, and warned of "continuing material uncertainty" over its operations.

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The latest disposals follow Geyhound's exit from six smaller surplus locations in the first half of the financial year. FirstGroup, which is seeking to sell its school bus, transit and coach businesses in the US, is rationalising its Greyhound property portfolio by moving to intermodal transport hubs or other facilities "better tailored to customers' needs".

The largest of the latest deals is the sale of its garage and customer terminal facility in the downtown arts district of Los Angeles, California, to a subsidiary of US real estate investment trust Prologis. Greyhound will receive a net $88m (£64.4m) in cash and will lease back the facility for two years, during which time Greyhound will complete the move of its terminal to a more convenient location and its garage to a smaller, more appropriately-sized site.

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The other two disposals are of facilities in Denver, Colorado, and Ottawa, Ontario, for net proceeds of $7m (£5.1m). The customer terminal in downtown Denver has moved to Union Station, while activities at the Ottawa garage were relocated as part of Greyhound's withdrawal of service from some parts of Canada in 2018/19.

FirstGroup added that "a number of other property sales processes are also underway". Shares in FirstGroup finished Thursday's trading marginally higher at 74.1p as the London market closed early for the New Year holiday.