Stagecoach ticket sales rise

TRANSPORT group Stagecoach said underlying sales were up on last year, helped by continued growth at its US bus business, and said it was positive on its future prospects.

By The Newsroom

Published 7th Mar 2011, 09:15 BST

Like-for-like revenue at its UK rail business, which includes the South West Trains London commuter franchise, grew 6.9 per cent in the 40 weeks to February 6, the company said on Monday, while Virgin Rail, in which it owns a 49 per cent stake, achieved sales growth of 12.6 per cent in the same period.

Sales at its UK bus unit rose 1.9 per cent, while its North American coaches operation posted an 8.2 per cent rise in underlying revenue in the nine months to January 31, shrugging off tough economic conditions.

Stagecoach, which last year re-entered the London bus market after buying the East London Bus Group, said current trading was good and that it was positive about the group’s prospects.

Shares in Stagecoach, which are flat in 2011, closed at 211.60 pence on Friday, valuing the group at £1.5bn.

Stagecoach London