Wednesday 2 November 2011

Stagecoach Update on Trading

Stagecoach has issued an update on trading in advance of a series of meetings with analysts.

The Group says that it has performed well since 30 April 2011, and remains on course to meet its expectations of profitability for the year ending 30 April 2012. 
Like-for-like revenue growth for the financial year to date in each of the Group's main businesses is provided below.

UK Bus                       - twenty four weeks ended 16 October 2011                       +2.2%

UK Rail                        - twenty four weeks ended 16 October 2011                        +8.7%
 (excluding tram businesses)

North America             - five months ended 30 September 2011                              +12.0%

Virgin Rail Group         - twenty four weeks ended 16 October 2011                         +9.7%

The Group plans to announce its interim results for the six months ended 31 October 2011 on 7 December 2011. This years final dividend paid was 4.9p per share bringing the total dividend for 2011 to 7.1p and continuing the steady increase in dividends achieved over the past few years.
Looking back to 2008 the total annual dividends paid to shareholders have been as follows.
2011 7.1p per share
2010 6.5p
2009 6.0p
2008 5.4p
2007 4.1p
2008 3.7p
During October 2011 shareholders have also been paid 47p per share during a return of capital exercise, in what Stagecoach described as a way of "establishing a more appropriate and efficient capital structure"
David Gambles