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Stagecoach satisfied as it increases profit

Ferry Online Travel News 26/06/2008

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£15m profits reported from this transport company

Train and bus transport company Stagecoach noted fears over global warming and higher petrol prices were driving travellers towards public transportation, as it announced full-year pre-tax profits were up eight per cent to £174.4 million.

The company which is based in Perth reported like-for-like revenues up 13.6 per cent at its railway arm – which features East Midland Trains and South West Trains – and 7.5 per cent at its British bus section.

This year’s group revenues were up 17.2 per cent at £1.76 billion. These better figures came from train travel, which experienced 36 per cent in over the one year period.

Stagecoach’s bus division in Britain operating profit has increased with 14.8 per cent, from £84.5m to £109.9m, while its British retail division experienced operating profit up 7.6 per cent from £58.8m to £59.1m.

The firm’s North American performance was explained to be ahead of schedule, with like-for-like revenue up 4.6 per cent and the ongoing expansion of its budget-friendly inter-city bus service megabus.com.

Robert Speirs, the company’s president said the board was confident for the group’s future prospects with trading continue according the schedule with expectation in the new financial year.

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