Stagecoach profits jump eight per cent

Suzie Neuwirth

TRANSPORT operator Stagecoach today announced an eight per cent rise in annual pre-tax profits, due to a strong performance in its UK bus operations and North America.

The firm posted profits of £218.9m and revenues up 8.3 per cent to £2.8bn. It raised its dividend by 10.3 per cent to 8.6p.

“This is another strong set of results, which are ahead of market expectations,” said chief executive Martin Griffiths.

“We have achieved ten years of sustainable growth, reflecting our successful strategy of targeting organic growth in our bus networks, rail franchise opportunities and selected acquisitions.”