Stagecoach revenues and profits fall as it loses rail routes

By
0 mins. to read
Stagecoach revenues and profits fall as it loses rail routes
Wozzie / Shutterstock.com

Transport operator Stagecoach (LON:SGC) saw its full year revenues drop by 18.1% to 3.2 billion for the 12 months ended 28th April, after the company’s contract for the South West Trains rail franchise ended last August. Adjusted profits before tax for the year also dropped to £144.8 million from £151 million in the prior year due to the loss of franchises and lower operating profits in the UK bus division.

Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE

There were some bright spots for the company’s US operations, with operating profits up by 19.6% despite a slight setback on the revenue side. Given the overall results, the board have elected to cut the full year dividend from 11.9p last year to 7.7p this year. Shares in Stagecoach had climbed by 1.27% to 135.80p at 12:30 BST.

 

 

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.