Partly Cloudy

Partly Cloudy

max temp: 13°C

min temp: 8°C

ESTD 1874 Search

UK: Bus demand boosts Stagecoach

11:08 26 August 2014

Stagecoach said more people got on board its buses this summer as the transport giant posted a 4% rise in revenues from regional services.

Stagecoach said more people got on board its buses this summer as the transport giant posted a 4% rise in revenues from regional services.

Stagecoach said more people got on board its buses this summer as the transport giant posted a 4% rise in revenues from regional services.

The Perth-based company, which has operations in the UK and North America, reported a 0.9% rise in bus passenger volumes outside London in the 12 weeks to July 20.

Across the group, Stagecoach described overall trading as satisfactory after revenues from UK rail operations including South West Trains and East Midlands Trains rose 4.9%. Its North America division posted the same rate of growth amid the continued expansion of its service.

Around 2.8 million passenger journeys are currently made on Stagecoach buses each day, including in Liverpool, Newcastle, Hull and Manchester.

It recently placed orders worth more than £90 million on new greener buses for 2014/15, with the company highlighting its confidence in “continuing to get people out of their cars and back on board the bus”.

Stagecoach said revenues earned directly from fare-paying passengers contributed most to the bus division’s 4% growth rate, with concessionary, contract, tendered and school revenues also continuing to grow despite efforts by local authorities to minimise concessionary reimbursements.

Stagecoach’s other UK operations include budget coach service megabus and the rail networks South West Trains, Island Line and East Midlands Trains. It has a 49% shareholding in Virgin Rail, which runs the West Coast franchise.

In North America, Stagecoach operates around 2,400 buses and coaches.

Stagecoach recently failed to secure the new Thameslink, Southern and Great Northern rail franchise, but this was offset by the award of a new West Coast franchise until 2017.

The company is in discussions with the Department for Transport over extensions to its South West and East Midlands franchises, although a decision is not expected until after the General Election.

Shares opened slightly higher following the trading update today.

Stagecoach said: “Although there are a number of challenges to growing profit in the year ending 30 April 2015, overall current trading is satisfactory and we remain on course to meet our expectations for the year.”

Search hundreds of local jobs at Jobs24


Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Sandy Jackson - Mark Westley Photography

British Gas has been forced to backtrack after repeatedly billing a 91-year-old great-grandmother for hundreds of pounds more than she owed.

Terry Hunt, editor of the East Anglian Daily Times, left, and Boshor Ali, chairman of the Bangladeshi Support Centre (BSC), right, with other supporters of the Suffolk BME Business Awards from Ipswich Borough Council, Suffolk Chamber of Commerce, the University of Suffolk and the BSC.	
Photo: Nigel Brown

More than 40 nominations have been received for the inaugural Suffolk BME (Black and Minority Ethnic) Business Awards.

Tim King, group fleet manager at Turners (Soham), left, takes delivery of the firm's newest truck from Eddie Hennessy, regional manager of DAF Trucks UK, representing regional dealership Chassis Cab. 
Photo: Keith Mindham Photography

Suffolk-based logistics company Turners (Soham) Ltd has reported increased annual revenues and profit, and says it is “well placed” for further success despite competitive market conditions.

Ian Thoroughgood, associate director at Grant Thornton in Ipswich, with Jonathan Agar, chief executive of Birketts.

Business advisers firm Grant Thorton is to unveil its 15th “Suffolk Limited” report next month on how the county’s leading businesses have performed over the past year.

Colleagues at Care UK's Peninsula NHS Treatment Centre.

Colchester-based Care UK is celebrating after one of its nine NHS treatment centres across the country achieved an overall “Outstanding” rating from the Care Quality Commission (CQC).


Show Job Lists

Most read

Most commented

Topic pages


Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24