British public transport operator Stagecoach Group plc (SGC.L), in its interim management statement, reported that its overall Group profitability and current trading remains good and its prospects remain positive, with no significant change to its expected adjusted earnings per share for the year ending April 30, 2013.
According to Stagecoach, the recent extreme weather in North America and the ongoing costs of its continued focus on building its business in the increasingly competitive North American intercity coach market has resulted in lowering its short-term operating profit view for the unit. However, at a Group level, the impact of this has been largely offset by continued good trading in UK businesses and lower than the earlier expected finance charges.
The company said it is excited by the long-term prospects for its North American businesses as it continues to develop the business and the megabus.com brand.
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