Stagecoach profit drives forward

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her whatsapp Show Comments ▼ whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemcenter_img John Dunne TRANSPORT group Stagecoach posted a 43 per cent rise in first-half profit, driven by growing ticket sales across its bus and rail operations, and said the positive trend had continued into the second half.The bus and rail operator on Wednesday reported a pretax profit of £108.7m on revenues 4.8 per cent higher at £1.13bn for the six months to the end of October.Stagecoach, which earlier this year re-entered the London bus market after buying the East London Bus Group, boosted the interim dividend by ten per cent to 2.2 pence and said the outlook for the remainder of its fiscal year was good.“We have made a good start to the second half of the financial year and current trading remains in line with management expectations,” said Chief Executive Brian Souter.“While we continue to monitor closely the rate and sustainability of economic recovery, we look forward with confidence and believe the outlook is positive for our bus and rail services.”Like-for-like revenue at Stagecoach’s UK rail business, which includes the South West Trains London commuter franchise, grew 6.4 per cent in the period, while Virgin Rail, in which it owns a 49 percent stake, achieved sales growth of 14.8 per cent in the same period.Underlying revenue at its UK bus unit rose 2.3 per cent, while its North American coaches operation posted a 7.5 per cent rise in like-for-like sales, shrugging off tough economic conditions.Shares in Stagecoach, which have risen 10 percent in the last three months, closed at 215 pence on Tuesday, valuing the group at around £1.5bn. Stagecoach profit drives forward Share Wednesday 8 December 2010 2:56 amlast_img read more