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Britain's Stagecoach sticks to annual earnings outlook
December 7, 2016 / 7:24 AM / 10 months ago

Britain's Stagecoach sticks to annual earnings outlook

LONDON, Dec 7 (Reuters) - British transport company Stagecoach said its annual earnings outlook was broadly unchanged despite lower bus profits, as it planned to lift its dividend to reflect its confidence in future appetite for public transport.

For the six months ended Oct 29, Stagecoach, which runs bus and train services in different parts of Britain, reported adjusted earnings per share of 14.4 pence, in line with a consensus forecast.

In its UK bus division, profits fell 7.4 percent as people took fewer journeys, which it blamed on economic weakness in some regional areas and more congested roads.

The company said overall it was confident in the future and proposed raising its interim dividend per share by 8.6 percent to 3.8 pence.

Reporting by Sarah Young; editing by Kate Holton

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