TRANSPORT group Stagecoach said today it was on course to meet profit expectations for the year to April 2012.
In a trading update, ahead of a series of meetings with analysts, the bus and train operator which holds a 49% stake in the Virgin Rail franchise provided details of like-for-like revenues in each of its main businesses.
It showed a 9.7% increase in the 24 weeks ended October 16 for the Virgin Rail Group, while its UK bus operation grew like-for-like sales by 2.2% in the same period and its UK rail interests, excluding the tram businesses, saw an 8.7% improvement.
The North America operation showed a 12% rise in the five months to September 30.
Today’s statement said: “Overall current trading remains good and the prospects for the group remain positive.”
Stagecoach plans to release its interim results for the six months to October 31 on December 7.
