28 Apr 2011 07:00
Stagecoach Group plc
Trading update
Stagecoach Group plc ("the Group") is today providing an update on trading in advance of a series of meetings with analysts.
Financial performance
The overall profitability of the Group has remained strong, with good ongoing cost control and all divisions showing revenue growth in the current year.
Like-for-like revenue growth* for the financial year to date in each of the Group's main businesses is provided below.
UK Bus - forty-eight weeks ended 3 April 2011 2.2%
UK Rail - forty-eight weeks ended 3 April 2011 6.0%
(excluding tram businesses)
North America - eleven months ended 31 March 2011 8.3%
(including Megabus.com)
Virgin Rail Group - forty-eight weeks ended 3 April 2011 12.1%
Outlook
Overall current trading remains good and we believe the prospects for the Group remain positive.
Preliminary results
The Group plans to announce its preliminary results for the year ending 30 April 2011 on 29 June 2011.
* Like-for-like revenue growth is derived, on a constant currency basis, by comparing year-to-date revenue with the equivalent prior year period for those businesses and individual operating units that have been part of the Group throughout both periods.
For further information, please contact:
Stagecoach Group plc
www.stagecoachgroup.com
Martin Griffiths, Finance Director 01738 442111
Ross Paterson, Director of Finance & Company Secretary 01738 442111
Steven Stewart, Director of Corporate Communications 07764 774680
Notes
Stagecoach Group
Stagecoach Group is a leading international public transport group, with extensive bus and rail operations in the UK and North America.
Cautionary Statement
This announcement contains certain forward-looking statements with respect to the financial performance, financial position and businesses of Stagecoach Group plc. These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are made only as at the date of this announcement. Except as required by law, Stagecoach Group plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein.