StockMarketWire.com - Stagecoach saw like-for-like revenue growth in its rail divisions during the 16 weeks to 19 August but sales in the bus divisions fell.
The UK bus (regional operations) division saw sales drop by 0.4%. The company has implemented mileage reductions and selective fare rises as it makes changes to services.
Like-for-like sales in the UK bus (London) business dropped 0.1% following a small net reduction in contracts with Transport for London.
The business in North America grew like-for-like sales by 0.8% in the four months to 31 August. Trading at the megabus.com inter-city coach business showed some signs of improvement, but the company said the market remains challenging due to sustained lower fuel prices, which have heightened car and air competition.
UK rail (excluding South West Trains) grew revenues by 3.8%, while Virgin Rail saw growth of 4.4%.
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.