Stagecoach posts H1 profit of 39%
UK rail and regional bus services boost sales figures
By CFOWorld.co.uk staff | CFO UK | Published 15:34, 05 December 12
Transport operator Stagecoach has posted a pre-tax profit of £123.7 million for the six months to October-end; an appreciation of 39 percent on an annualised basis.
In an update on Wednesday, the transport company also reported an 8.5 percent group sales rise to £1.4 billion.
Stagecoach’s regional bus division reported an 8.3 percent sales rise during the period. The group’s rail business also reported a 6.6 percent rise in sales. However, its London bus business posted a revenue decline 0.6 percent following a restructuring drive.
Its North American bus business, which includes yellow school bus services and Megabus, grew sales by 20 percent but said the rate of growth slowed in November owing to severe storms in the north eastern USA.
Looking ahead, Stagecoach expects second half revenue growth to remain "relatively modest."
However, the transport company said it had made a positive start to the second half of the year and was well placed to deliver "some growth" in full year profits.
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