Megabus to double service at Christmas December 9, 2021 Megabus will double its service to ensure customers can see their families over Christmas. The bus operator has said it will operate over 9,000 miles on 25 December, reaching 48,000 miles worth of trips on Boxing Day. Across the whole festive period, Megabus coaches will travel over half a million miles around the country. “After [...]
Stagecoach profits rocket as passenger journeys boom December 8, 2021 Stagecoach’s profits have gone up 104.3 per cent in the half year ended 30 October, rocketing to £32.9m compared with £16.1m registered in the same period last year. Earnings per share went up from 0.1p to 2.7p in the same timeframe. The transport giant’s revenues have also hiked from £454.6m to £579.4 as a result [...]
National Express buys time as Stagecoach takeover is delayed October 18, 2021 Stagecoach’s panel on takeovers and mergers has consented to an extension to the date by which National Express is required to announce its firm intention to buy the rival. National Express will have by 5pm on 16 November if it wants to go ahead and buy Stagecoach or give up on the deal altogether. The [...]
National Express exploring takeover of rival Stagecoach September 21, 2021 National Express has confirmed reports that it is looking into a possible takeover of its fellow transport heavyweight Stagecoach. The British bus operator has started discussions around buying out its Scottish rival, the UK’s largest bus operator. Stagecoach shares rose by almost 90 per cent over the last year, reaching a market value of around [...]
Stagecoach scraps dividend as pandemic hits bus services June 30, 2021 Stagecoach has scrapped its dividend for the full year after Covid lockdowns sparked a sharp fall in revenue and profit. The Scottish transport group posted revenue of £928m in the year to May, down from £1.4bn in the previous 12 months. Pre-tax profit dropped 40 per cent to £24.7m, though this was ahead of market [...]
Stagecoach shares surge despite profit nosedive amid pandemic July 22, 2020 Stagecoach’s shares shot up in early trading today despite revealing a staggering 60 per cent plunge in annual profit in part due to the impact of the coronavirus pandemic. The bus operator’s shares surged 10.8 per cent to 55.9p as large slumps in revenue and profit for its latest financial year were not as bad [...]
All change at Stagecoach as chairman steps down December 11, 2019 Stagecoach suffered a fall in revenue in the first half of the financial year, as chairman Sir Brian Souter said he planned to step down this morning. The company said the fall in profit and revenue reflected the changing size of its business, as it updated market for the first time since it relinquished control [...]
Stagecoach chiefs take home top bonuses despite travel giant’s poor fortunes July 14, 2019 Stagecoach bosses took home maximum bonuses last year, despite the firm’s plummeting share price and loss of the East Coast main line rail contract. Read more: Stagecoach profits rise despite UK rail franchise loss Chief executive Martin Griffiths was paid £848,000 on top of his normal salary, bringing his total pay to £1.8m. Finance boss [...]
Stagecoach shares drop after Deutsche Bank cuts target price July 1, 2019 Shares in train and bus operator Stagecoach fell four per cent this morning to 121.7p after Deutsche Bank slashed its target price. Read more: Stagecoach profits rise despite UK rail franchise loss The broker lowered the shares’ target price to 155p from 170p. The bank said this would allow stable profitability in 2020-21 and a [...]
Stagecoach profits rise despite UK rail franchise loss June 26, 2019 Stagecoach has ruled out future bids for UK rail franchises today once its current operations finish in November. The transport giant also revealed higher profits for the year to the end of April despite its train business facing an uncertain future. The figures Stagecoach’s profit before tax rose 23 per cent year on year to [...]