Group 'like-for-like' revenue up 5.9%
Earnings per share up 66.3% to 16.8 pence
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Stagecoach are showing good growth in their half yearly figures issued this morning.
Their press release states "Strong partnerships delivering revenue and profit growth in bus and rail operations"
· Group like-for-like* revenue up 5.9%
· Earnings per share* up 66.3% to 16.8 pence (2011: 10.1 pence)
- Further growth in profit from bus operations
- Growth in rail profit with full effect of revenue support at East Midlands Trains
- Earnings-enhancing effect of October 2011 return of cash to shareholders
· Interim dividend per share up 8.3% to 2.6 pence (2011: 2.4 pence)
· UK Bus (regional operations): Partnership model and successful fares strategy delivering further revenue and operating profit growth
· UK Bus (London): Turnaround of acquired business progressing to plan and profitability improved
· UK Rail:
Good revenue growth, increased profitability and strong operational
performance. Further development of the alliance between South West
Trains and Network Rail
· North America: Further expansion of megabus.com network and good financial performance at recently acquired Coach America operations
· Virgin Rail Group:
Nearing agreement for continued operation of West Coast train services
and plans to bid for new long-term West Coast franchise when tendered
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"Our success is built on strong
partnerships across our bus and rail networks. We are delivering a
better service for passengers, growing our business sustainably and
helping support local communities and the economy.
"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.
"We are playing an active part in the UK
Government's review into rail franchising. The private sector has been
central to the huge growth of UK rail travel over the past 15 years and
it is important that a sustainable rail franchising programme is
restarted as quickly as possible.
"Virgin Rail Group has introduced more
than 100 new Pendolino train carriages in recent months, boosting
capacity on the West Coast mainline. We look forward to it shortly
reaching an agreement with the UK Department for Transport for the
continued operation of West Coast train services.
"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.
"We see good potential ahead to grow our
transport operations in the UK and North America, and we believe the
outlook is positive. We are closely focused on the commercial
opportunities from our investment in new technology, such as smartcards,
digital marketing and social media. These developments are helping
customers by making it easier to travel, easier to buy, and easier to
get information. Innovation, value for money and strong operational
delivery are also key elements of our ongoing programme to drive organic
growth and we are making targeted acquisitions where these can add
value to the Group."
Arriva in court over disability access to north east Buses
↓ see below ↓
