Transport group 'in good shape'
Stagecoach profits shaved by switch to cars
Stagecoach, the transport operator, says prospects in the UK rail sector are encouraging and the group is in good financial shape even though the lower oil price encouraged travellers to use cars and this affected the profitability of some businesses, most notably megabus.com inter-city coach operations in North America.
Operating profit in bus operations fell short of targets but this was offset by a strong performance in UK Rail and particularly from the Virgin Rail joint venture. Group pre-tax profit rose from £180.7 million to £185m excluding exceptionals.
It is proposing a final dividend for the year of 7.3p per share (2014: 6.6p) which would give a total dividend for the year up 10.5% to 10.5p per share (2014: 9.5p). The final dividend would be payable on 30 September to shareholders on the register at 28 August.