STEADY PROGRESS AT STAGECOACH

Stagecoach, the bus and rail group led by chief executive Brian Souter, said yesterday like-for-like revenues at its UK rail business, which includes the South West Trains London commuter franchise, grew 6.9 per cent in the 40 weeks to 6 February. While sales at its UK bus unit rose 1.9 per cent, and its US coach operation saw a 8.2 per cent rise in core sales in the nine months to 31 January.