AS STAGECOACH revealed a single percentage point boost in profits to £187 million, the transport giant has announced the sale of the retail operations of its megabus Europe business to German coach operator, FlixMobility.
Revenue climbed 20 per cent. Describing the results as solid, chief executive Martin Griffiths said the business was managing its challenges.
"Like other business sectors, we are affected by reduced public spending and factors in the wider economy, such as weakening consumer confidence and slowing growth in both UK GDP and real earnings,” he said.
“Public transport also faces the challenge from sustained lower fuel prices, the related effects of car and air competition, as well as traveller concerns over global security,” he added.
In spite of these challenges, management has not significantly revised its expectations for earnings per share in the next financial year.
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