Stagecoach profit up 8%
Transport firm Stagecoach Plc said on Wednesday that its revenue for the year to 30 April increased 17.2 per cent to £1,763.6 million. Pre-tax profit for the company was up eight per cent to £174.4 million.
Schroders 35% profit rise in 2007The company said that it was raising its full year dividend by 31.7 per cent to 5.4 pence per share and added that its net debt was £319.7 million.
Stagecoach said that its UK Bus business had seen passenger volumes rise 3.6 per cent on a like for like basis and said that like for like revenue had increased 7.5 per cent.
The firms UK Rail division also saw strong passenger volume and revenue growth in its South Western and East Midlands Trains.
The group said that its performance objectives in North America had been achieved ahead of schedule with operating margin up from 7.9 to 10.1 per cent and like for like revenue up 4.6 per cent.
Brian Souter, Chief Executive of Stagecoach, said, "Stagecoach Group has delivered strongly on its growth strategy, attracting more people to its high-quality bus and rail services in the UK and North America. We believe there are growing signs of a fundamental positive shift in customer attitudes towards public transport, driven by increasing road congestion, rising fuel costs and concern about climate change.
He continued, "I am pleased to report that we have made a good start to the new financial year and trading is in line with our expectations. We look forward to further growth."
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