IN BRIEF: Stagecoach swings to profit in year before acquisition

Stagecoach Group - formerly bus company Stagecoach Group PLC, now part of DWS Infrastructure following GBP595 million acquisition - For the year ended April 30, revenue grows to GBP1.18 billion from GBP928.2 million year-on-year, as the firm swings to a pretax profit of GBP39.3 million from a pretax loss of GBP5.5 million. Earnings per share 3.2 pence, compared to 0.6 pence. Notes passenger regional bus business passenger volumes are at around 81% of 2019 levels, with commercial sales at 91% of 2019 levels, for the week ended June 18.

"We remain positive on the long-term outlook for the group and we look forward with confidence under our new ownership. DWS Infrastructure is a patient, long-term investor with a strong track record of unlocking value for all stakeholders," Stagecoach says.

By Elizabeth Winter; elizabethwinter@alliancenews.com

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