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Stagecoach H1 Pretax Profit Rises; Sir Brian Souter To Step Down As Chairman

Stagecoach Group plc (SGC.L) reported profit before tax of 65.9 million pounds for the half-year ended 26 October 2019 compared to 48.9 million pounds, previous year. Profit per share was 9.8 pence compared to 7.0 pence. Adjusted pretax profit declined to 66.6 million pounds from 73.1 million pounds. Adjusted earnings per share from continuing operations was 9.9 pence compared to 10.5 pence.

First-half revenue from continuing operations was 800.2 million pounds compared to 1.01 billion pounds, last year.

The Group's full-year adjusted earnings per share guidance remains unchanged.

Stagecoach Group has maintained the interim dividend at 3.8 pence per share. The dividend is payable to shareholders on the register at 24 January 2020 and will be paid on 4 March 2020.

Also, Stagecoach Group plc announced Sir Brian Souter will step down as Chairman on 31 December 2019. Ray O'Toole, non-Executive Director, will be appointed independent Chairman. Sir Brian Souter will continue on the Board as a Non-Executive Director.

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