Stagecoach back at the wheel as passengers return to buses
Stagecoach profits have risen again as passengers return to buses, but the over-60s are staying away despite their free travel benefits.
Britain’s largest bus and coach operator has benefited from government-backed schemes to boost public transport use after the pandemic, such as free travel for children under 22 in Scotland.
In January 2023, a Ā£2 cap on rates was introduced across the UK to help people struggling with the cost of living crisis. This cap was extended until the end of this year.
At the wheel: Britain’s largest bus and coach company has benefited from government-backed schemes to boost public transport use after the pandemic
The strong performance of its regional bus division helped the Perth-based groupās operating profit rise by a third to Ā£97.3m on revenue of Ā£1.6bn in the year to April 2024, up 16 per cent.
Passenger numbers are āalmostā back to pre-pandemic levels, CEO Claire Miles said, but āolder passengers who thought there was a high risk of catching Covid on a busā¦ are more reluctant to return.ā
The profit increase came despite Stagecoach’s London arm making a loss of Ā£8.5m, which the company blamed on driver shortages and wage pressures.
DIY INVESTMENT PLATFORMS
AJ-Bel
AJ-Bel
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive investor
interactive investor
Fixed investment costs from Ā£4.99 per month
Saxo
Saxo
Get Ā£200 back on trading fees
Trading 212
Trading 212
Free trading and no account fees
Affiliate links: If you purchase a product, This is Money may earn a commission. These deals are chosen by our editorial team because we think they are worth highlighting. This does not affect our editorial independence.