Stagecoach says it will hit earnings goals

Marion Dakers
BUS AND trains group Stagecoach expects to hit its annual earnings target after good growth at its UK rail and North American bus businesses in the last year.

The firm has said its British rail unit, which includes its South West Trains venture, grew sales by 5.4 per cent in the 48 weeks to the end of March.

Stagecoach’s Virgin Rail venture, which it runs alongside Virgin Group, saw sales rise 3.1 per cent in the same period.

And in the States, where Stagecoach operates Megabus services and school buses in Wisconsin, the group posted sales growth of 9.7 per cent.

“Overall current trading remains good and the prospects for the Group remain positive,” it said.

Analysts at Espirito Santo said that despite some signs of slowing growth, the firm is “well-positioned in UK Rail” and in the United States.