Wednesday preview: Stagecoach reports first half results

Stagecoach reports its first half results on Wednesday with analysts expecting similar revenue trends as reported at the September trading update.

In its 28 September statement, the transport operator reported mixed trading in its divisions.

Like-for-like revenue fell 1.9% year-on-year in the regional UK bus operations in the 16 weeks to August 20, while like-for-like London bus revenue dropped 0.9%.

The UK’s regional bus passenger volumes were hurt by weaker underlying economic conditions. London’s passenger volumes were weighed down by net reduction in contracts with the Transport for London.

In the North America arm, like-for-like revenue declined 3.3% in the four months to the end of August from a year before, as the Megabus coach business continued to suffer from increased competition from car and air services.

On the upside, like-for-like revenue in Stagecoach's UK rail business increased 1.7% year-on-year in the 16 weeks to August 20. Like-for-like revenue from its Virgin Rail Group venture gained 4.7%

“We do not expect any material changes in the revenue trends highlighted with the September trading update,” said UBS.

Wednesday 07 December

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Kromek Group, Stagecoach Group, Tricorn Group

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