Stagecoach FY Adj. Pretax Profit Rises

Stagecoach Group plc (SGC.L) said it recorded continuing recovery in demand in UK regional bus for the year ended 30 April 2022. Passenger journeys and commercial sales are now at around 81% and around 91% respectively of equivalent 2019 levels.

Stagecoach Group posted adjusted pretax profit of 44.1 million pounds for the year ended 30 April 2022 compared to 17.0 million pounds, prior year. Adjusted earnings per share increased to 6.9 pence from 2.7 pence.

Fiscal year pretax profit was 39.3 million pounds compared to a loss of 5.5 million pounds, prior year. Earnings per share was 3.2 pence compared to 0.6 pence.

Fiscal year revenue increased to 1.18 billion pounds from 928.2 million pounds, last year.

Looking forward, the Group said, while there remains some uncertainty around the pace of recovery, there is no change to its expected outlook for the year ending 29 April 2023. The Group remains positive on the long-term outlook.

The Board has proposed no dividends for the year ended 30 April 2022.

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