PERTH-based rail and bus group Stagecoach is continuing to negotiate a smooth route through the obstacles facing the transport sector with all of its divisions posting revenue gains.
Stagecoach's Aberdeen-based rival FirstGroup dismayed the market in recent weeks when it revealed growth in its bus business in Scotland and northern England had stalled.
But Stagecoach said: "Overall current trading remains good.
"We believe the prospects for the group remain positive and each of the group's wholly owned divisions remain well placed to at least maintain their level of operating profit in the year to April 30, 2013."
For the 48 weeks to April 1, Stagecoach, which is headed by Sir Brian Souter, reported an 8.8% increase in like-for-like sales at its UK rail business.
This was down slightly on the 9.5% growth posted by the division, which includes London commuter franchise South West Trains, in the first 40 weeks of its financial year.
Its UK bus business posted a 2.7% rise in like-for-like sales versus 3% in the first 40 weeks.
Stagecoach's North America bus operations, which include its expanding Megabus coach operation, posted a 14% jump in like-for-like sales, an acceleration on the 13.3% recorded in the first nine months.
Revenues at Virgin Rail Group, the West Coast Main Line operator in which Stagecoach has a 49% stake, were up 7.9% against 8.9% in the first 40 weeks.
Douglas McNeill, analyst at Charles Stanley, wrote in a note for clients: "No FirstGroup-style problems in UK bus here. It's a very satisfactory statement."
John Lawson, analyst at Investec described it as "another strong performance" while Gert Zonneveld of Panmure Gordon said it was "solid".
Virgin Rail is bidding to retain the West Coast franchise, which runs from London to Scotland.
Its competitors include FirstGroup. A decision is expected in August.
Shares in Stagecoach, which last week started running cross-Channel coach services under the Megabus brand as it scouts potential opportunities to expand on the continent, were hit as the wider UK market slumped on renewed concerns about the eurozone.
The company's stock closed down 5.5p, or 2.2%, yesterday at 247.6p. This values the firm at £1.4 billion, against £915.4m for FirstGroup.
FirstGroup started 2012 as the larger of the two with a market capitalisation of £1.63bn, compared with £1.57bn for Stagecoach.
Stagecoach will announce its results for the year to April 30, 2012 on June 26.
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