Stagecoach running ahead of last year due to US business

Trains and buses operator Stagecoach today said sales were currently running ahead of last year due to growth at its U.S. bus business.

Like-for-like revenue at its train operations in the UK, which include the South West Trains London commuter franchise, grew nearly 7% in the 40 weeks to February 6, while Virgin Rail, in which it owns a 49% stake, achieved sales growth of 12.6% in the same period.

Sales at its UK bus unit rose 1.9%, while its North American coaches operation posted an 8.2% rise in underlying revenue in the nine months to January 31, shrugging off tough economic conditions.

Stagecoach, which last year re-entered the London bus market after buying the East London Bus Group, said current trading was good and that it was positive about the group's prospects.