LONDON, Dec 9 (Reuters) - Stagecoach, the UK's biggest bus
and coach operator, posted a 99% plunge in earnings due to the
pandemic stopping people travelling plus the expiry of previous
contracts in the six months to Oct. 31.
The transport operator has received government support since
March, but that primarily helps it to cover the cost of running
buses whose capacity is restricted due to social distancing and
lockdowns. Its earnings per share slipped to 0.1 pence from 10
pence in the same period last year.
Stagecoach said on Wednesday that its regional buses were
currently operating with 54% of previous commercial sales.
Looking to the future, the company said that at some point
when the COVID-19 threat eases it expects the government to
encourage public transport use again, but it did not provide any
more specific forecasts.
(Reporting by Sarah Young; editing by James Davey)
