18th Oct 2005 07:00
Stagecoach Group PLC18 October 2005 Stagecoach Group plc pre-close trading update 18 October 2005 Stagecoach Group plc today provides an update on trading before meetings withanalysts in advance of its interim close period. We are pleased to report that the Group's profit before tax and exceptionalitems for its financial year to date is in line with our expectations. Our bus and rail operations in the UK, North America and New Zealand havedelivered further revenue growth, driven by effective marketing, innovation andinvestment in new vehicles. However, we continue to face ongoing cost pressures,particularly in relation to fuel prices. South West Trains was recently named Passenger Operator of the Year and itsrecent operational performance is amongst the best achieved by train operatingcompanies in London and the South East. We are scheduled to submitprequalification documentation next month for the new South West franchise,which runs from February 2007, and we believe our excellent track record putsthe Group in a strong position to win the competition. Stagecoach Group recently submitted bids for the Thameslink/Great Northern andGreater Western franchises and we are excited by the potential to grow our railportfolio. The Group expects to announce its interim results for the six months to 31October 2005 on 7 December 2005. The results for the six months to 31 October 2005 will be prepared using theaccounting policies that the Group expects to apply to its results for the yearending 30 April 2006. These policies are required to be consistent withInternational Financial Reporting Standards ("IFRS"). The Group issued astatement on 29 September 2005 explaining the impact of IFRS on its financialstatements. - ENDS - For further information: Martin Griffiths, Finance Director, Stagecoach GroupTel: 01738 442 111 Steve Stewart, Head of Media and Public Affairs, Stagecoach GroupTel: 07764 774680 John Kiely, SmithfieldTel: 020 7360 4900 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SGC.L