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Summary
Adjusted earnings per share* up 2.8% to 14.6 pence (2012 as restated: 14.2 pence)
Interim dividend per share up 11.5% to 2.9 pence (2012: 2.6 pence)
Net debt down £43.4m to £494.6m
UK Bus
o Revenue growth in regional bus operations built on successful partnership model, investment and low fares
o New contract wins in London driven by good cost control and operational performance
o Expansion of inter-city bus services in UK and Europe
UK Rail
o Good financial and operational performance at East Midlands and South Western rail franchises
o Working with Government to expand rail capacity into London
o South West Trains-Network Rail Alliance delivering improved railway
North America
o Significant increase in revenue and operating profit driven by megabus.com inter-city services
o Investing in further expansion
Growth opportunities ahead in UK and North America
· Modal shift from car to bus in UK supported by innovation, investment and low fares
· Expansion of megabus.com in North America and further development of megabusGold premium products
· Discussions with
Department for Transport on planned extensions to existing South
Western, East Midlands and Virgin West Coast rail franchises
· Pipeline of new rail opportunities in UK
Commenting on the results, Chief Executive, Martin Griffiths, said:
"Our bus and rail services in the UK and
North America are performing well and there are a number of exciting
opportunities for growth ahead. We have invested in new products and
further improvements to our services for customers. Our success is
delivering value for our shareholders and we are also making a strong
contribution to local communities and the economy.
"In the UK, our sector-leading regional
bus services have gone from strength to strength, despite lower public
spending and austerity measures. We have the lowest fares and highest
customer satisfaction of any major bus operator, which is helping get
Britain back on board the bus. Smart ticketing and other developments in
new technology are helping make our services more convenient and offer
further potential to encourage people to switch from the car to public
transport.
"We are positive about the outlook for
the rail sector in the UK where the franchising programme is again
moving. There is a pipeline of new opportunities in addition to the
planned extensions to the duration of the rail franchises operated by
our existing high quality train companies. Our experience of alliancing
with Network Rail over the past 18 months has given us an invaluable
insight and understanding that can be used to ensure new franchise bids
can deliver better value for money for Government. We are also working
closely with Government to deliver vital new rail capacity for our
customers.
"Our megabus branded services in the UK,
mainland Europe and North America have an exciting future ahead. We see
significant potential to expand our presence in the US, where we
already operate in 40 states. We are also considering opportunities to
roll-out our premium day and overnight services to new locations.
"Our people on the frontline and behind
the scenes have been central to delivering consistently strong
operational performance which produces the good financial results. In
dealing with the operational and customer service challenges of the
recent severe storms in the UK, our people showed their dedication and
professionalism in tough conditions and I am proud of our team across
the business.
"The Group is in excellent financial
shape and we are well placed to capitalise on opportunities to add value
for our investors. Private sector expertise and partnership working
with the public sector has transformed bus and rail travel over the past
two decades and we firmly believe that model has more to deliver."
http://otp.investis.com/clients/uk/stagecoach/rns/regulatory-story.aspx?cid=273&newsid=381664
SEE ALSO THE LATEST ON THE FOCUS FLICKR SITE
SEE ALSO THE LATEST ON THE FOCUS FLICKR SITE
Martin Arrand has now added further images to the recent visit by the Focus Transport team to Manchester. These can be viewed here
