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Friday, 31 October 2014

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Stagecoach profit rise

CUMBRIAN bus operator Stagecoach has reported a rise in profits and revenues as the higher cost of petrol saw more people ditch their cars and take public transport.

The Perth-based transport firm said operating profits grew 25 per cent to £240.2m in the year to April 30, as revenues increased in all of its divisions.

The company’s regional UK bus division – which operates services across Cumbria – saw sales growth of 2.1 per cent to £893.6m. Operating profits rose 21 per cent to £153.1m.

Its UK rail arm saw revenues growth of 4.2 per cent to £1bn, while operating profits increased by 16 per cent to £48.4m.

Virgin Rail, in which it owns a 49 per cent stake, notched up sales growth of 10.5 per cent, while its share of operating profits increased 55 per cent to £39.5 million.

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