Stagecoach: Profitability satisfactory

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In its latest trading update Stagecoach says that the overall profitability of the Group remained satisfactory. “There has been no material change to our expected adjusted earnings per share for the year ending April 30, 2015,” says the company.

Like-for-like revenue growth over the 24 week period ending October 12 of 3.2% at the UK Bus Division excludes revenue earned from contracts to provide transport for the Commonwealth Games. Passenger volume growth on an equivalent basis was 0.7%. Higher commercial revenue (revenue earned directly from fare-paying passengers) has contributed most to overall revenue growth, with concessionary, tendered and school revenue also growing.

The UK Bus (London) division saw 14.5% growth over the same period while for the five months ending September 30, it was 3.5% in North America.