17 Jun 2020 10:53
17 June 2020
Rail litigation judgement
Stagecoach Group plc ("the Group") notes the decision of the High Court today in respect of its claims against the Secretary of State for Transport regarding decisions to disqualify the Group from three rail franchise competitions. The Court ruled against the Group's claims.
We believe there were important issues which needed to be determined by the court to help secure the future of the country's rail system and our view remains that we were right not to accept the risks in these contracts.
Nevertheless, while we are disappointed at today's ruling, we accept the decision and move on. The country is facing a huge challenge in fighting the Covid-19 pandemic, and all of our energies are focused on ensuring our transport networks help the national effort at this critical time.
ENDS
For further information, please contact:
Stagecoach Group plc www.stagecoach.com
Investors and analysts
Ross Paterson, Finance Director 07714 667897
Bruce Dingwall, Group Financial Controller 07917 555293
Media
Steven Stewart, Director of Communications 01738 442111 or 07764 774680
John Kiely, Smithfield Consultants 020 3047 2476