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Any pay rises will be passed on in small fare rises. On average and extra 10p per journey….
Shortage of drivers in most cases means fewer buses per hour which means lower fuel costs (more profit) and some unhappy customers whose timetable is interrupted for a while
Overall both issues do no get in the way of strong financial performance
Bus firms report crippling staff shortages as workers quit for better-paid HGV roles.
https://www.dailymail.co.uk/news/article-10125939/Bus-firms-report-crippling-staff-shortages-workers-quit-better-paid-HGV-roles.html
English cities to receive transport boost of almost £7bn in budget.
TakeoverToday 22:04
I am in Nex and Stagecoach. Having just had a speculative approach for my company fail I can see why this one will work. Firstly the RNS goes into fine detail about the cost savings and who gets what jobs. That tells you they’ve met and shared lots of financial info to see if it’s right for them. Secondly, with the shortages in staffing, they say they double up on many routes, together they can pool more of their resources to solve the problem
What will come next? I think NEX with improve their offer to 0.38-0.40 shares or add some kind on bonus to shareholders. This is all pre share price recovery for both shareholders which are still 50% of what they were. Once investors see the underpricing they’ll buy in looking for short term value and price with re-rate. If this doesn’t happen in next 3-4 weeks I’ll be amazed
https://www.***************************/national-express-group-plc-34.4-potential-upside-indicated-by-berenberg-bank/4121029123
The government announced yesterday that they have no intention of bringing in any form of restrictions but are keeping an eye on the numbers. This sends the media straight into scaremonger mode, just like the so called food and petrol shortages. Bad news is good news for them as it sells papers and gets hits on their websites so they hype it up all they can.
Winter impact overblown. I work in a number of hospitals and there is no issue the media speaks off. Impact today is driver strikes and pay hikes. The few pence that Stagecoach will add to prices will pay for the lot so investors worrying about nothing. Long term this is a great stick to own
This won’t have any impact if required again, most people wearing them on public transport anyway
It's poor pay for the job you have to do. Instead of increasing pay to potentially attract new drivers they will pay employees little as possible. .
Funny you saying that.... I was sitting in a bus station only the other day and was informed by a stagecoach driver that the traffic commissioner got involved with an East Midlands service because of the lack of drivers and running of the service...... Stagecoach ended up pulling drivers from Skegness to fulfill their obligations..... Surprised anyone wants to takeover a bus company that currently has nationwide industrial action taking place.... not to mention drivers leaving on a weekly basis....
Stagecoach are cutting routes in Greater Manchester due to staff shortages, appears need another 70 drivers.
Suggest you read the trading statement to review how passenger counts are performing.
1. Bus Journeys 70%+ of 2019 levels and government contracts still paying irrespective of passenger count
2. Have retained the Rail Replacement contract for London North Eastern Railway and continue to actively pursue other UK Rail Replacement bids. Could they be looking to pickup what GoAhead lost out to? The Southeastern franchise was taken from them and given to Last Resort Operators but if they could bid and win the contract, depending on margins could add positive shareholder value.
3. Still recipient of the £226.5m Bus Recovery Grant
4. No mention of driver shortages or operational issues
5. Just extended the October deadline to November 16 for NEX negotiations on the merger. More due diligence and synergies to discuss is encouraging
I suspect there is more bad news on the horizon. It’s a tough climate out there at the moment. Passenger number s are down after lockdown. Costs are rising along with fuel costs. It a better economic climate I think they will flourish but for now I think they will drift down.
re: Excellent trading statement and good news it was Little mention of talks other than nothing definite. Maybe losing interest and want to go it alone, anther prospective partner or just nothing definite
1. Bus Journeys 70%+ of 2019 levels and government contracts still paying
2. Have retained the Rail Replacement contract for London North Eastern Railway and continue to actively pursue other UK Rail Replacement bids. Could they be looking to pickup what GoAhead lost out to? The Southeastern franchise was taken from them and given to Last Resort Operators but if they could bid and win the contract, depending on margins could add positive shareholder value.
3. Still recipient of the £226.5m Bus Recovery Grant
4. No mention of driver shortages or operational issues
5. Won’t rush with a low ball takeover from NEX and still in negotiations which may not materialise
All in, I’m happy with the trading statement.
Only news you’ll be getting mate is ......... they’re all out on strike... currently 20 different pay disputes nationwide... then there’s the current driver shortage..... then there’s Stagecoach themselves on Twitter apologising to customers for not being able to get people to school and work......yup can see the sp heading towards a quid by the end of the week....
I thought that now CHRI55 has sold all his SGC shares we would get to have a break from his garbage on this BB, I even had a beer to celebrate. The man just can't keep away.
You closed your short yet CHRI55
@CHRI55..... just to keep you up to date..... I’ve never been sacked from any employer..... though I have been self employed for 30 plus years during my working career. Whilst working for Stagecoach I built up a substantial share holding prior to the Covid outbreak both privately and through the sharesave scheme the company run... up until they stopped it because of Covid.... From the outbreak of Covid I invested heavily in Stagecoach and have done rather well... I actually retired in 2015... but went back to work because for no other reason than I wanted to drive a bus and the opportunity arose..... I continue to be a shareholder though not to the holding I once had. I left Stagecoach on my terms not theirs. You maybe right in that I’m bitter, but I wasn’t bitter about pay....All I know is that there are grievances nationwide at every depot, some are pay related, but a lot are about conditions... So for you to say drivers won’t strike because they can’t afford to strike... is just an insult to stagecoach employees. Personally I hope they don’t strike , but senior managers and directors at all levels have become complacent and ignorant to both conditions and pay. I’ve personally seen a document written by a director admitting that the company has received a bloody nose and has asked employees to send him a message telling him what was wrong... he got 480 replies within the first hour...As a side issue the entire bus industry needs a massive wake up call...because if it doesn’t change it will lose contracts... and the days of drivers driving empty busses and expecting government subsidies will be a thing of the past....
Barney is correct.
Barney is correct.
Ako are averageing up that tells its own story they shorted Nex when Nex sp was allready low.muppets
To some ex colleagues down at the bus station yesterday 50 drivers have left the same depot I left back in June..... and the numbers just keep rising........ And nationwide industrial action looming being voted on..... Sorry but Stagecoach management need a massive wake up call...
But not too soon. Lol