Stagecoach set for profits boost in UK

Train and bus operator Stagecoach said today it was on track for stronger-than-expected profits after revenues soared at its rail division.

Train and bus operator Stagecoach said today it was on track for stronger-than-expected profits after revenues soared at its rail division.

The introduction of more ticket machines and the use of barriers at stations on its South West Trains franchise helped the performance.

UK rail revenues rose 15.7% on a like-for-like basis in the 24 weeks to October 14, while it bus arm achieved growth of 7.9% on a year earlier.

As a result, Stagecoach said it expected profits for the year ending April 30 to be ahead of its previous forecasts. Analysts had previously pencilled in profits of £123.3m (€177.3m) for the period.

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