Stagecoach profit up 8% thanks to UK regional bus growth
By Kyle Lindsay
Thursday, June 27, 2013 - 10:52
RISE: Stagecoach profits up 8%
Transport operator Stagecoach have posted an 8% rise in full-year profit, Reuters have reported.
Driven by strong growth in their British regional bus business, the Scotland-based company reported a pre-tax profit of £219million for 2012/13.
Stagecoach also announced revenues grew by 8.2% – climbing to £2.8billion in the last financial year – while 2013/14 trading has so far met expectation.
The company said that operating profit at their UK regional bus business rose 62%, though profit fell at their London bus arm.
Mark Griffiths, Chief Executive of Stagecoach, told Reuters: “The public transport market has long-term fundamental strengths and a positive outlook.”
Additional reporting by Reuters, with thanks.