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Stagecoach earnings down 39% as transport demand fell in UK lockdown

LONDON, July 22 (Reuters) - British transport company Stagecoach said it was difficult to forecast future profitability after its earnings per share fell 39% in its 2019-2020 financial year as the pandemic lockdown and restrictions hit demand for travel.

Stagecoach, which runs buses across the country, the low-cost coach service megabus.com as well as trams in Sheffield, said earnings per share fell to 13.5 pence in the 12-months ended 2 May from 22.1 pence the previous year.

“It remains difficult to reliably predict profit for the new financial year ending 1 May 2021,” Stagecoach said. “In the short-term, the actions we have taken and the continuing support of government should ensure we continue to generate positive EBITDA.” (Reporting by Sarah Young; editing by James Davey)

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