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Congestion aids bus firm’s profits
Aug 23 2007 by Alistair Houghton, Liverpool Daily Post
MERSEYSIDE’S second-biggest bus operator, Stagecoach, said its passenger revenues had seen strong growth as more motorists switched to buses and trains.
The company, which owns 49% of the Virgin Rail Group, and runs a fleet of 7,000 buses and coaches nationwide, reported better than anticipated trading despite severe flooding that caused disruption to some of its UK operations.
Stagecoach said it believed increased congestion on UK roads had prompted more people to use its services.
Like-for-like revenues from its UK bus arm were up by 7.6% on a year earlier in the 12 weeks to July 21, with the figure for UK rail ahead 15%.
The company’s Virgin Rail joint venture, which operates Cross Country and West Coast mainline services, saw a gain of 13.4%.
A spokesman said: “On both bus and rail we are seeing very strong underlying passenger growth.
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