Stagecoach profit dips as UK rail unit drags

Bus and train operator Stagecoach reported an 18% drop in half year pre-tax profit after a weak performance at its UK rail division.

Bus and train operator Stagecoach reported an 18% drop in half year pre-tax profit after a weak performance at its UK rail division.

The FTSE 250 transport company said pre-tax profit fell to £88.7m for the six months ended 31 October 2011 from £108.7m the year before. Revenue for the period rose to £1.29bn from £1.13bn previously.

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