Stagecoach sees revenues drive forward

STAGECOACH revenues from fares at its rail businesses grew last year despite the recession.

Like-for-like revenues at the transport company’s British rail services were up 2.1 per cent in the 40 weeks to 7 February.

Meanwhile Virgin Rail, in which it owns a 49 per cent stake, achieved sales growth of 8.8 per cent.

The company, which launched an unsuccessful bid to buy National Express last year, said in a statement: “Notwithstanding the continued uncertain economic outlook in the countries in which the group operates, overall current trading remains in line with our expectations and we believe the prospects for the group remain positive.”