Register
Login:
Share:
Email Facebook Twitter

EXCLUSIVE: Malcy, Columbus & Reabold presentations - Video Webcast Here

EXCLUSIVE: Leo Koot, Exec Chairman, Columbus Energy speaks at London South East's Oil & Gas event
EXCLUSIVE: Stephen Williams, Reabold Resources speaks at London South East's Oil & Gas event


Stagecoach Share News (SGC)

Stock Market news at lse.co.uk - RSS News Feeds

Share News for Stagecoach (SGC)


Share Price: 169.20Bid: 169.20Ask: 169.50Change: -0.90 (-0.53%)Faller - Stagecoach
Spread: 0.30Spread as %: 0.18%Open: 169.10High: 171.10Low: 168.70Yesterday’s Close: 170.10




UPDATE 1-Stagecoach reports 15.3 pct fall in full-year profit

Wed, 28th Jun 2017 08:08

(Adds details, peer performance)

June 28 (Reuters) - British transport company Stagecoach Group Plc on Wednesday reported a 15.3 percent drop in its full-year pretax profit as economic conditions hurt its domestic bus business.

The company reported a pretax profit of 158.7 million pounds ($203.4 million) for the year ended April 29. Full-year revenue rose to 3.94 billion pounds from 3.87 billion pounds a year earlier.

"Looking ahead, we remain cautious on the short-term outlook for revenue trends and operating profit in our bus and rail markets in the UK," the company said in a statement.

Stagecoach said it would finalise new commercial terms with the Department for Transport regarding the Virgin Trains East Coast rail franchise during the next year.

The East Coast line is the main rail link between London and Edinburgh, the Scottish capital, and it serves over 20 million customers a year.

The company also said that while it expected to incur losses under the current contract, the business would be profitable from 2019.

Stagecoach has a 90 percent shareholding in Virgin Trains East Coast, which operates the East Coast rail franchise.

The company recently lost the franchise to run South West trains to a consortium of FirstGroup and Hong Kong’s MTR

Rival Go-Ahead Group said last week that it was on track to meet its full-year profit forecast as strong bus passenger numbers in some regions offset still slow revenue growth at Southern railways following strike action. ($1 = 0.7804 pounds) (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri and Jane Merriman)



(c) Copyright Thomson Reuters 2017. Click For Restrictions - http://about.reuters.com/fulllegal.asp


Related Shares:





UPDATE 1-Britain's FTSE eyes strongest quarter since 2013

* FTSE 100 up 0.3 pct at close* Pound, oil boost index in Q2* Cyclicals rally as trade worries ease (Recasts, updates prices at close)By Kit ReesLONDO
[29 Jun '18 17:05]

Britain's FTSE eyes strongest quarter since 2010

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.8 pct* Pound, oil boost index in Q2* Cyclicals rally as trade
[29 Jun '18 10:13]

UPDATE 1-Britain's FTSE dips as trade worries dull risk appetite again

* FTSE 100 down 0.1 pct* British index outperforms European peers* Banks on the backfoot, defensives rally* Shire rises after Takeda shareholder group
[28 Jun '18 17:17]

Commodities drag Britain's FTSE as trade worries dull risk appetite

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.2 pct* Banks on the backfoot, defensives rally* Shire rises
[28 Jun '18 10:17]

UPDATE 2-Stagecoach cuts dividend as UK rail business contracts

* East Coast rail contract results in 85.6 mln pound hit* Year dividend cut to 7.7 pence per share from 11.9 pence* Wants to bid for more UK rail cont
[28 Jun '18 08:15]

Stagecoach cuts dividend, hit by East Coast rail costs

LONDON, June 28 (Reuters) - British transport company Stagecoach cut its dividend after annual profits fell, and the company took an 85.6 million poun
[28 Jun '18 07:23]

UK's Labour loses vote to dock transport minister's pay over rail failure

LONDON, May 23 (Reuters) - Britain's opposition Labour Party lost a vote on Wednesday to force the government to dock the transport minister's salary
[23 May '18 16:20]

UPDATE 1-Ambitious bids were sought for failed British rail line, lawmakers told

(Adds quotes)LONDON, May 21 (Reuters) - Britain's Department for Transport (DfT) encouraged "ambitious" bidding on revenue projections for the failed
[21 May '18 19:26]



Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.