Stagecoach says prospects remain positive as revenues grow

Transport group Stagecoach today said overall trading “remains good” across its business, with all main divisions enjoying an increase in revenues.

In a trading update ahead of its financial year-end, the Perth-based firm said like-for-like revenues at its UK bus operations rose 3.6 per cent in the 48 weeks to 31 March.

Rail revenues were up 5.4 per cent, while its Virgin Rail joint venture saw sales rise 3.1 per cent.

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At its North American division, which includes the Megabus budget coach business, revenues during the 11 months to 31 March were 9.7 per cent higher than the same period a year ago.

Stagecoach, which is due to publish its annual results on 26 June, said: “Overall, current trading remains good and the prospects for the group remain positive.”