Stagecoach shrugs off worst of winter weather

Transport giant Stagecoach today said its financial performance remains on track, despite weather-related disruption across the UK and North America.

The Perth-based firm said sales at its North American business, including its fast-growing Megabus budget coach operation, were up 5.4 per cent in the nine months to 31 January.

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For the 40 weeks to 2 January, sales at its regional UK bus division were up 4.6 per cent on a year earlier, while rail revenues were ahead 3.9 per cent. At its Virgin Rail joint venture, revenues grew 5.7 per cent.

Stagecoach, led by chief executive Martin Griffiths, said: “There has been no significant change to our expected adjusted earnings per share for the year ending 30 April, which given the effects of the severe weather in both the UK and North America, reflects the strength in the underlying trading of the business.”