Buses Ride * UK - To the rescue of Stagecoach
Shares in bus and rail groups have been under pressure this year as rising unemployment reduces commuter numbers
London,UK -The Guardian, by Dan Milmo -24 June 2009: -- Stagecoach reported slowing passenger and revenue growth at its major rail businesses today but saw its shares rise 7.5% after its bus operations helped the public transport group report stronger-than-expected full-year results... Shares in bus and rail groups have been under pressure this year year owing to their exposure to train travel, which has been hit by the recession as rising unemployment reduces commuter numbers. Stagecoach said income growth at its biggest franchise, South West Trains (SWT), had slowed as reductions in central London employment and leisure travel affected ticket sales. It added that revenue increases at East Midlands Trains had also declined over the past six months... (From freefoto, images:Photograph of Stagecoach Bus in Newcastle in the snow) Labels: passengers' transport industry
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