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Stagecoach Share News (SGC)

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Share News for Stagecoach (SGC)


Share Price: 159.50Bid: 159.40Ask: 159.60Change: -2.30 (-1.42%)Faller - Stagecoach
Spread: 0.20Spread as %: 0.13%Open: 161.00High: 162.70Low: 159.40Yesterday’s Close: 161.80




BUZZ-Stagecoach: bottom of STOXX on FY earnings miss

Wed, 28th Jun 2017 09:08

** Stagecoach (-7.3 pct) bottom of Stoxx 600 as well as UK's FTSE 250 in volume

** Co reports a 15.3 pct drop in FY PBT as economic conditions hurt its domestic bus business

** FY17 PBT at 158.7 mln stg ($203.4 mln); Jefferies flags cons at 166 mln stg, Liberum estimated 167.9 mln stg

** Co remains cautious on short-term outlook for revenue trends and operating profit in its bus and rail markets in the UK

** Final dividend growth of 4.4 pct to 11.9p/share lower than expected, Liberum says

** Substantial exceptional charges of 124 mln stg, mostly related to the East Coast rail franchise, per company

** Co says not "significantly changed" adjusted EPS expectations for current yr

** Co says revenue is not growing as strongly as anticipated in its Virgin Trains East Coast unit, hurt by increased terrorism concerns and political uncertainty

** Stock at its lowest level in 8 yrs

** Peer FirstGroup -1.9% (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)



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