Stagecoach half-year earnings plunge 99% during pandemic
Reuters
Published Dec 09, 2020 07:32
LONDON (Reuters) - Stagecoach, the UK's biggest bus and coach operator, posted a 99% plunge in earnings due to the pandemic stopping people travelling plus the expiry of previous contracts in the six months to Oct. 31.
The transport operator has received government support since March, but that primarily helps it to cover the cost of running buses whose capacity is restricted due to social distancing and lockdowns. Its earnings per share slipped to 0.1 pence from 10 pence in the same period last year.
Stagecoach said on Wednesday that its regional buses were currently operating with 54% of previous commercial sales.
Looking to the future, the company said that at some point when the COVID-19 threat eases it expects the government to encourage public transport use again, but it did not provide any more specific forecasts.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.