Commenting on the results, Chief Executive, Sir Brian Souter, said:
"We are seeing growing demand for our bus and rail services in the UK and North America, with further evidence of modal shift as consumers look for better value and more convenient transport alternatives to the rising cost of motoring and increasing road congestion."
All divisions have reported increased revenue and operating profit. At UK Bus there was sector-leading profit margin with good passenger volume growth trends and UK Rail underpinned by operational delivery and customer satisfaction. Stagecoach are shortlisted for the forthcoming Greater Anglia and West Coast rail franchises.
Revenue for the year to 30 April 2011 was £2,389.8m (2010: £2,164.4m). Total operating profit (before intangible asset expenses and exceptional items) was up 25.1% at £240.2m (2010: £192.0m), reflecting increased profit in all divisions. Earnings per share before intangible asset expenses and exceptional items were 27.3% higher at 23.8p (2010: 18.7p).
In line with the Group's good performance, the Directors have proposed a final dividend of 4.9p per share, giving a total dividend per share for the year up 9.2% at 7.1p (2010: 6.5p). The proposed final dividend is payable to shareholders on the register at 2 September 2011 and will be paid on 5 October 2011.
http://www.stagecoachgroup.com/scg/ir/newsevents/rns/rnsitem?id=4323135
http://www.stagecoachgroup.com/scg/ir/newsevents/rns/rnsitem?id=4323135
David Gambles 29/06/11