2nd Mar 2016 07:00
2 March 2016
Stagecoach Group plc
Trading update
Stagecoach Group plc ("the Group") is today providing an update on recent trading.
Financial performance
Our expectation of the Group's adjusted earnings per share for the year ending 30 April 2016 has not significantly changed from when we announced our half year results in December 2015.
Consistent with the trends we reported in December, revenue growth in our UK Bus (regional operations) and UK Rail businesses in the second half of the financial year has been lower than was experienced in the first half. As we anticipated, second half revenue in North America is benefiting from new contract wins.
Like-for-like revenue growth for the financial year to date in each of the Group's main businesses is provided below.
UK Bus (regional operations)
| - forty weeks ended 6 February 2016 | 0.7% |
UK Bus (London)
| - forty weeks ended 6 February 2016 | 1.3% |
UK Rail(excluding Virgin Trains East Coast)
| - forty weeks ended 6 February 2016 | 4.6% |
North America (including Megabus.com)
| - nine months ended 31 January 2016 | (4.4)% |
Virgin Rail Group | - forty weeks ended 6 February 2016 | 6.6%
|
Although we continue to operate in a more challenging environment, we remain on track to meet our expectations for the year.
For further information, please contact:
Stagecoach Group plc
| www.stagecoachgroup.com |
Investors and analysts Ross Paterson, Finance Director Bruce Dingwall, Group Financial Controller
| 01738 44211101738 442111 |
Media Steven Stewart, Director of Corporate Communications | 07764 774680 |
Notes
(1) 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.
(2) 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.
Related Shares:
SGC.L