Bus and rail group Stagecoach said overall current trading remains good and its prospects remain positive with like-for-like revenue growth up in nearly all of its divisions.
The Scotland based group added there has been no significant change to its expected profit before tax for the year ending April 30 2013.
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
The 0.9% decline in revenue at UK Bus (London) was expected as it lets go of less profitable contracts and restructures the acquired business.
"For the year as a whole UK Bus (London) is well placed to maintain revenue with contract losses being offset by some contract wins and inflationary price increases on existing contracts," Stagecoach explained in a statement.
LFL revenue at UK Rail during the period gained 7.9% while its North America operations, which includes Megabus.com and excludes the disposed Wisconsin school bus business, saw revenue growth 10.7%. Revenue at Virgin Rail rose 2.7% during the period.
CJ
-
Defeat into victory: the key to Simon Wolfson's successOpinion Next CEO Simon Wolfson claims he owes his success to a book on military strategy in World War II. What lessons does it hold, and how did he apply them to Next?
-
Aircraft leasing companies can lift investors' portfoliosThe aircraft leasing business is a safer way to cash in on air travel and its booming demand. David Prosser explains how it works and how to access it
