Rail 'Renaissance' For Stagecoach As Profits Jump

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May 24, 2012, 11:33:52 PM

Recommended service - hourly, according to the GWRUS. Let's work towards that service and towards ensuring all services are used.

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Stagecoach has hailed a "fundamental shift" in attitudes to public transport as it reported a healthy jump in profits (link below.)
http://news.bbc.co.uk/1/hi/business/7472640.stm

It said growth in passenger numbers on its rail and bus services was due, in part, to growing concerns about congestion and climate change.

Pre-tax profits for the year to 30 April rose from £162m to £174m as sales increased by 16% to £1.76bn.

Stagecoach said the UK rail sector was undergoing a "renaissance" due to increased demand, investment and more effective marketing.

Sales at its rail operations rose 36% to £777.8m during the period, while its share of profit from its Virgin Rail Group joint venture - which operates trains on the west coast mainline between London and Glasgow - rose from £13.5m to £32.2m.

But Stagecoach warned there was a "significant risk" that maintenance on the west coast line - currently being undertaken by Network Rail - would not be finished by December, potentially hampering its expansion plan.

Stagecoach said it was upbeat about current trading, despite being mindful of rising fuel costs and the impact of the economic slowdown on people's expenditure.

National Express has become the latest rail operator to say high petrol prices are benefiting its business by forcing more people onto public transport (link below.)
http://news.bbc.co.uk/1/hi/business/7477415.stm

The firm, whose franchises include the East Coast Mainline between London and Aberdeen, said sales on its network rose 9% in the five months to 31 May.

Full-year profits are expected to be significantly ahead of last year.

National Express said all its rail and bus services had benefited from a "broad national trend" for people switching to public transport.

Sales on the east coast franchise, which National Express took over last autumn, were 11% higher in the first five months of the year than the equivalent period in 2007.

Revenues on the firm's bus network were up 7% over the period.

National Express said rising fuel costs were affecting its business but that it had hedged the cost at which it bought fuel while fuel expenditure amounted to only a small share of overall revenues.

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