Business

Stagecoach's full-year profits 'on track'

Stagecoach bus
Image caption Transport group Stagecoach operates buses and train services across the UK

Transport group Stagecoach has said it is on track to meet its full-year profit targets after a rise in revenues at both its bus and rail operations.

At its UK rail unit, which includes South West Trains, like-for-like revenues rose 6.5% in the 24 weeks to 17 October from a year ago.

Revenues under the same measurement were up 15% at Virgin Rail, in which Stagecoach owns a 49% stake.

Meanwhile, like-for-like revenues at its UK bus unit added 2.3%.

Last month Stagecoach re-entered the London bus market after buying the East London Bus Group for £53m.

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