Stagecoach grows better than expected

Bus and rail company Stagecoach has reported better than expected growth since May 1st. According to the company, Stagecoach's UK bus business was up 9.3 percent, while rail revenues rose nine percent. The company said that the increases were due to people switching to public transport because of the rising cost of private motoring. The company is pleased with the figures, because high fuel prices and inflation in the UK could have hurt their financial results. Virgin Rail, a company in which Stagecoach has a 49 percent share, also grew by two percent, also higher than expected. Stagecoach's U. S. operations in the coach business grew by 7.6 percent in these three months, thanks to additional vehicles and services stateside.

[Source: Financial Times]