Stagecoach Group has reported continued like-for-like revenue growth for its UK regional and London operations – albeit at a slow rate.
According to its pre-close trading statement, released on April 27, 2016, the Group is on course to achieve its expected overall adjusted earnings per share for the financial year that ended April 30, 2016.
Regional UK bus and coach operations have seen a growth of 0.2% in the past 48 weeks, which the company has reported as expectedly low. However, it has stated that in light of this it aims to keep fare increases to a minimum.
European bus operations, however, have not seen any growth and continue to remain loss-making, the group has reported.
London bus operations have seen revenue growth of 1.1% – also an expected performance for the past year. Stagecoach reported that it expected to see a decline here but is still aiming for margins in excess of 7%.
Meanwhile, it has stated that UK Rail operations have grown by 2.5%, and Virgin Rail Group operations have grown by 4.6% – all in line with expectations, the firm has said.
The Group is scheduled to announce preliminary results for the financial year the ended on April 30, 2016 on June 29, 2016.
