Stagecoach Group plc released a trading update on November 1, 2011.
Like-for-like revenue growth for each of the group’s divisions was as follows:
- Stagecoach UK Bus, in the twenty four weeks ending October 16, 2011, had a revenue increase of 2.2%;
- Revenue in Stagecoach’s rail business (excluding tram businesses) increased by 8.7% over the same period;
- In North America (including Megabus), across the five months ending September 30, revenue increased by 12.0%; and
- Virgin Rail Group, where Stagecoach holds a 49% stake, increased revenue by 9.7% in the twenty four weeks ending October 16, 2011.
The group remains on course to meet its expectations of profitability for the year ending April 30, 2012. The next interim results will be released on December 7 this year.