LFL growth accelerates at Stagecoach
Like-for-like (LFL) sales growth at FTSE 250 transport group Stagecoach accelerated across most of its divisions during its fiscal third quarter, while the overall profitability of the business 'has remained good'.
Like-for-like (LFL) sales growth at FTSE 250 transport group Stagecoach accelerated across most of its divisions during its fiscal third quarter, while the overall profitability of the business 'has remained good'.
For the 40 weeks ended February 5th, LFL in UK Bus, the group's largest division, increased by 3%, compared with the 2.3% growth seen in the first half. Meanwhile UK Rail's LFL growth (excluding the tram businesses) accelerated from 8.6% to 9.5%.
The North America division achieved 13.3% higher LFL sales, compared with the 12.1% increase in the first six months, however the firm's joint venture, Virgin Rail Group (VRG), saw its LFL growth rate ease from 9.3% to 8.9%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
VRG is progressing its bid for the new West Coast Trains rail franchise, due to commence in December 2012.
Stagecoach said its has maintained a strong financial position with investment grade credit ratings and "substantial" headroom under its debt facilities.
"Overall current trading remains good and we believe the prospects for the group remain positive," the statement said.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Divorced? Simple rules to stop your ex claiming inheritance on your estate
Divorces are back at pre-pandemic levels leaving lawyers urging separated couples to get their affairs watertight to avoid any nasty disputes after death
-
Is now a good time to invest in Europe?
European stocks are undervalued, but experts believe that defence and infrastructure spending could see renewed growth