Stagecoach reports 'good' overall profitability over year

FTSE 250-listed transport group Stagecoach has reported that overall profitability of the group 'has remained good' with no significant change to its expected adjusted earnings per share for the year ending April 30th 2013.

FTSE 250-listed transport group Stagecoach has reported that overall profitability of the group 'has remained good' with no significant change to its expected adjusted earnings per share for the year ending April 30th 2013.

In an interim management statement issued on Friday, the group reported that recent extreme weather in North America and the ongoing costs of a continued focus on building its business in the US intercity coach market has resulted in Stagecoach lowering its short-term operating profit expectations for the division.

However, at a group level, Stagecoach said that the impact of this has been largely offset by continued good trading in its UK businesses and lower than previously expected finance charges.

"We remain excited by the long-term prospects for our businesses in North America as we continue to develop the business and the megabus.com brand," the company reported in its statement.

Like-for-like growthThe group reported like-for-like revenue growth of 3.8% in its UK Bus regional operations for the 40 weeks ending February 3rd 2013.

Like-for-like revenue growth for the UK Bus London operations over the same time frame was 1.5%.

In the group's UK Rail business, like-for-like revenue growth was up 6.6% in the 40 weeks ending February 3rd.

In North America, like-for-like revenue growth was up 10.4% in the nine months ending January 31st. This included Megabus.com and excluded the disposed Wisconsin school bus business.

In the 40 weeks ending February 3rd, like-for-like revenue was up 3.3% at its Virgin Rail Group joint venture.

Stagecoach reported that the financial position of the group 'remains strong'.

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021