1st Nov 2007 07:01
Stagecoach Group PLC01 November 2007 Stagecoach Group plc1 November 2007 Trading update Stagecoach Group plc ("the Group") is today providing an update on its tradingahead of a series of meetings with analysts. The Group plans to announce its interim results for the six months to 31 October2007 on Wednesday 5 December 2007. The Group stated in its Interim Management Statement of 22 August 2007 that ithad made a good start to its financial year ending 30 April 2008. The goodperformance has continued throughout the six months to 31 October 2007. On theback of stronger than anticipated revenue growth, the Group now expects itsprofit before tax for the year ending 30 April 2008 to be ahead of its previousexpectations. Like-for-like revenue growth in the main divisions was: UK Bus - twenty-four weeks ended 14 October 2007 7.9% UK Rail - twenty-four weeks ended 14 October 2007 15.7% North America - five months ended 30 September 2007 4.2% Virgin Rail Group - twenty-four weeks ended 14 October 2007 11.6% As part of the Group's bid for the South Western rail franchise, the Groupplanned a number of specific revenue-enhancing initiatives. Some of theseinitiatives have been introduced earlier than had been assumed in the originalfranchise bid and the exceptionally good revenue growth in the UK Rail divisionin the period partly reflects the benefits of this. The strong performance across our businesses reflects wider market trendsboosting demand for public transport and the Group's continued focus on productinnovation and good operational performance. Notwithstanding continuing cost pressures such as increased fuel prices, theoutlook for the Group remains positive. *Like-for-like revenue growth is derived, on a constant currency basis, bycomparing year-to-date revenue with the equivalent prior year period for thosebusinesses and individual operating units that have been part of the Groupthroughout both periods. - ENDS - For further information, please contact: Stagecoach Group plc www.stagecoachgroup.com Martin Griffiths, Finance Director 01738 442111Steven Stewart, Director of Corporate Communications 01738 442111 SmithfieldJohn Kiely 020 7360 4900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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