Hold The Horses - Stagecoach Franchise Ploughs On
Posted on: 28/06/2006
Bloomberg reports today that the Stagecoach Group Plc, a rail and bus company that runs trains out of London's Waterloo station, said full-year profit rose 33 percent on demand for transport services in the U.K. and U.S.
Stagecoach, which last week sold its London bus operation to Macquarie Bank Ltd. for 263 million pounds, is focusing on its bus business outside the U.K. capital and adding to the train franchise the company runs in London.
“We are well placed to submit a strong bid for the new South Western rail franchise,'' Chief Executive Officer Brian Souter said in the statement. ``In North America, we have made further progress by growing revenue and passenger volumes in both our scheduled and leisure operations.''
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