News Releases

Stagecoach Group plc – Interim results for the half-year ended 29 October 2016

07 Dec 2016

Earnings per share in line with expectations, investing for growth

  • Adjusted earnings per share* 14.4 pence (H1 2016: 17.0 pence)
  • Interim dividend per share up 8.6% to 3.8 pence (H1 2016: 3.5 pence)
  • Profit before tax £89.5m (H1 2016: £90.8m)
  • Further investment in new vehicles and technology
    • net capital expenditure* £125.5m (H1 2016: £83.9m)
  • Bid for new South Western rail franchise submitted, current franchise extended to August 2017
  • Our expectation of 2016/17 adjusted earnings per share broadly unchanged

Financial summary

Results excluding intangible asset
expenses and exceptional items*
Statutory results
H1 2017 H1 2016 H1 2017 H1 2016
Revenue (£m) 2,002.1 1,970.4 2,002.1 1,970.4
Total operating profit (£m) 117.0 144.6 108.9 137.2
Non-operating exceptional items (£m) - - (2.8) -
Net finance charges (£m) (16.6) (23.1) (16.6) (46.4)
Profit before taxation (£m) 100.4 121.5 89.5 90.8
Earnings per share (pence) 14.4p 17.0p 12.7p 12.8p
Interim dividend per share (pence) 3.8p 3.5p 3.8p 3.5p

* see definitions in note 23 to the condensed financial statements

Chief Executive, Martin Griffiths, said:

“We are pleased with the performance of the business in the face of a challenging and uncertain political and economic environment. We have met our expectations of earnings per share for the first half of the year.

“We see positive long-term prospects for public transport and have increased the interim dividend by 8.6%. We have a growth strategy built on continued investment, value-for-money travel and high customer satisfaction and we have made further significant investments to improve our bus and rail services for customers now and in the future. There is a large market opportunity for modal shift from cars to public transport against a backdrop of population growth, urbanisation, technological advancements, and increasing pressure to tackle road congestion and improve air quality.

“We remain confident that we can continue to deliver long-term value to our customers and shareholders. The prospects for growth in public transport in the UK and North America remain good and we are continuing to invest to ensure that our businesses are a central part of that growth.”

Copies of this announcement are available on the Stagecoach Group website at http://www.stagecoach.com/investors/financial-analysis/reports/2016.aspx

For further information, please contact:

Stagecoach Group plc www.stagecoachgroup.com

Investors and analysts
Ross Paterson, Finance Director 01738 442111
Bruce Dingwall, Group Financial Controller 01738 442111
Media
Steven Stewart, Director of Corporate Communications 07764 774680

Notes to Editors

Stagecoach Group

  • Stagecoach is an international public transport group, with operations in the UK, mainland Europe, the United States and Canada. The Group employs around 40,000 people, and operates around 13,000 buses, coaches, trains and trams.
  • Stagecoach is one of the UK's biggest bus and coach operators with around 8,500 buses and coaches on a network stretching from south-west England to the Highlands and Islands of Scotland. Low-cost coach service, megabus.com, operates a network of inter-city services across the UK. We also operate some contracted coach services in mainland Europe.
  • Stagecoach is a major UK rail operator, running the South West Trains, Island Line and East Midlands Trains networks. It also has a 49% shareholding in Virgin Rail Group, which operates the West Coast rail franchise, and a 90% shareholding in Virgin Trains East Coast, which operates the East Coast rail franchise.
  • Stagecoach operates the Supertram light rail network in Sheffield.
  • In North America, Stagecoach operates around 2,300 buses and coaches in the United States and Canada. megabus.com operates a network of inter-city coach services in North America. Stagecoach is also involved in operating commuter, transit, contracted, charter, airport shuttle and sightseeing services.

View the full announcement of the Interim results