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HIGHLAND Country Buses, a division of Stagecoach, has reported a fall in profits – and warned it faces headwinds from ongoing economic weakness and the effect of government spending cuts on local authorities.
The company, which runs buses in Inverness, Orkney and the Highlands and Islands, reported a pre-tax profit of £1.6 million in the year ended April 30, compared with £2m last time. Revenue dropped to below £19m from £19.8m.
The firm said it expects only “modest short-term revenue growth”, but noted the long-term picture looks positive.
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