Stagecoach share price update: Group Keeps Earnings Guidance Ahead Of Analyst Meetings

Alliance News
  • October 29th, 08:40
  • Last Updated: October 10th, 12:26

**UPDATE: Stagecoach Group Keeps Earnings Guidance Ahead Of Analyst Meetings**

LONDON (Alliance News) – Stagecoach Group PLC Wednesday kept its full-year guidance, saying its overall profitability had remained “satisfactory”.

The bus and rail operator said like-for-like revenue growth for the 24 weeks ending October 12 rose 3.2% in its UK regional bus operations, 14.5% in its London bus operations, 7.4% in UK rail, 3.5% at its North American operations and 5.8% in its Virgin Rail joint venture.
In a trading update before the company holds a series of meetings with analysts, it said there are a number of challenges to growing profit in the financial year ending April 30, 2015, but overall current trading is satisfactory and it is on course to meet its expectations for the year.

The latest like-for-like sales figures showed a slowdown for UK regional bus and its North American operations, but a rapid acceleration for its UK rail operations. When it reported revenue figures for the 12 weeks to July 20 in late August, it had reported growth of 4.0% for UK regional bus, 14.4% for London bus, 4.9% for UK rail, 4.9% for North America, and 5.7% for Virgin Rail.
Still, Stagecoach shares were down 0.5% at 388.70 pence early Wednesday.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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