Large profit boost for Stagecoach Group

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Stagecoach finances: share earnings up 51% and interim dividend up 0.2p per share
Stagecoach finances: share
earnings up 51% and interim
dividend up 0.2p per share

Stagecoach Group has released financial results for the six months ended October 31.

Group revenue increased by 8.5% to £1.403.3m (£1,293.7m 2011). Total operating profit saw a rise of around 37% to £136.4m (£99.4m 2011), while profit before taxation was up 29% at £116.1m (£90m 2011).

Earnings per share improved by more than 50% to 15.7p (10.4p 2011), with interim dividend per share up 0.2p to 2.6p.

Commenting on the results, Stagecoach Group CEO, Sir Brian Souter, said: “Our success is built on strong partnerships across our bus and rail networks.

“In the UK, we have achieved further growth in our regional bus operations and we continue to make good progress at our contracted London bus business. Passenger revenue growth remains good on our UK rail networks and we have further developed the alliance with Network Rail at South West Trains.

“In North America, we are pleased with the performance of the businesses acquired in the summer from Coach America. Our budget coach brand, megabus.com, continues to expand to new regions and we now offer low-cost travel to customers in around 120 locations in the United States and Canada.

“This summer, many of our employees put in a massive effort to deliver a hugely successful transport operation for the London 2012 Olympic and Paralympic Games. I am proud of their achievement and once again I would like to thank them for their professionalism and dedication.”