Virgin Rail operator tracks 8% revenue growth
VIRGIN Rail owner Stagecoach Group has announced a near 8% revenue increase for the train business.
Stagecoach said revenue for the rail company, which has the franchise for the vital West Coast Main Line, saw a 7.9% revenue growth for the 48 weeks to April 1, 2012.
In a trading update ahead of a series of meetings with analysts, the group said its overall profitability had remained good.
The group’s UK regional bus operations grew 2.7% over the same period compared with the previous year, while its rail operations excluding its tram services, increased 8.8%. The group’s US operations rose 14% in the 11 months of March 31, 2012.
In outlook, the group said current trading looked good.
“We believe the prospects for the group remain positive and that each of the group’s wholly owned divisions remain well placed to at least maintain their level of operating profit in the year to April 30, 2013,” it said in a statement.
The group will announce its preliminary results for the year to April 30, 2012 on June 26, 2012.
