Stagecoach Group PLC (SGC.L)
23 Aug 2019
Wed, Aug 14 2019
Aug 14 FirstGroup said on Wednesday Britain's transport authority awarded the West Coast Rail Partnership, which operates trains from London to Glasgow, to the transport group's joint venture First Trenitalia West Coast Rail.
** Shares of train and bus operator Stagecoach Group rise as much as 6.7% to 125.2 pence, last up 1.8%
** Shares of train and bus operator Stagecoach Group fall 4.5% to 121 pence
Rail operator Stagecoach is preparing for a future as a smaller firm operating buses and trams in Britain, as it faces exclusion from three important rail routes that could cost the company 1 billion pounds.
* Annual profit rises 4% (Adds CEO, finance director, analyst comments)
June 26 Stagecoach Group Plc reported higher annual profit on Wednesday, even as the bus and rail operator faces losing three important rail franchises that could wipe off 1 billion pounds from the company's books going forward.
Rail operator Stagecoach Group Plc is suing Britain's transport authority after being disqualified from bidding for the West Coast rail franchise along with partners SNCF and Virgin.
* Partners in West Coast franchise are SNCF, Virgin (Adds comment from DfT spokesman, background)
May 24 Rail operator Stagecoach Group Plc said on Friday it along with partners SNCF and Virgin had sued Britain's transport authority, after they were disqualified from bidding for the West Coast rail franchise citing pension concerns.
Stagecoach Group said on Wednesday it had begun legal action against Britain's Department for Transport after the company's bid to continue operating a rail route was rejected due to concerns over pensions.
- 3 dividend growth shares with wide margins of safety
- Are Sirius Minerals plc, Homeserve plc and Stagecoach Group plc too good to miss?
- Why are shares dropping like a rock at Ocado Group plc, Stagecoach Group plc and Go-Ahead Group plc?
- Don't invest in Stagecoach Group plc, Hargreaves Services plc and Mortgage Advice Bureau (Holdings) plc until you've read this
- 3 Super Dividend Stocks: Aviva plc, SSE PLC And Stagecoach Group plc
- GlaxoSmithKline plc, Burberry Group plc & Stagecoach Group plc: Buy Low, Sell High?