Posted on March - 29 - 2010
Stagecoach stays on track despite the big freeze
Transport firm Stagecoach spotted a light at the end of the recessionary tunnel as it said rail revenues improved in line with a slight upturn in the economy.
The company said overall profitability remained on track despite the “unusually severe” winter weather that hit revenues for December and January.
Stagecoach said like-for-like revenues for its rail division – excluding its tram operations – were up 2.1 per cent in the 40 weeks to February 7, an improvement on the 1.9 per cent reported for the six months to October.
But the bus division – which operates in more than 100 towns and cities across the UK including Manchester, saw comparable revenues slow to 3.4 per cent in recent trading, from 4.4 per cent in the half year.
A spokesman for Stagecoach said that the bus arm had been the main victim of the freezing winter weather as consumers cut down on travel in the cold snap.
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