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Stagecoach sees surge in bus travel... and profits |
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Written by Karl
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Sunday, 31 August 2008 15:49 |
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Stagecoach have reported better than expected profit growth since its year end. The growth is mainly due to higher revenue growth in its bus division as commuters increasingly opt for public transport. Stagecoach said that like-for-like revenue growth in its UK bus business had increased 9.3 per cent, with strong trading, despite cost pressures from increased fuel costs and higher UK inflation.  The company said that the increases were due to people switching to public transport because of the rising cost of private motoring.
Virgin Rail, in which Stagecoach has a 49 per cent share, has delivered revenue growth of 2 per cent, which was above expectations.
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