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Preliminary Results for the year ended 30 April 2000

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14/06/2000

Pre-tax profits of £244m, up 11% *
Increased total dividend of 3.6p per share, up 20%

Stagecoach Holdings plc announces preliminary results for the year ended 30 April 2000.

HIGHLIGHTS

  • Total turnover £2,179 million, up 41 per cent
  • Profit before tax £244 million, up 11 per cent *
  • Basic earnings per share 9.4p, down 22%
  • Adjusted earnings per share 13.4p, up 6% *
  • Net assets per share increased from 52.5 pence to 98.9 pence
  • Restructuring programme underway at Coach USA including recruitment of Chief Operating Officer
  • UK Bus record cash flows; initiatives for growth
  • South West Trains strong growth in passenger numbers and revenue
  • Technology initiatives at Prepayment Cards Limited and thetrainline.com
  • Swebus and Porterbrook disposals completed
  • Exceptional write-offs in respect of non-core operations
  • New non-executive director
  • Further share buyback approval sought

* before goodwill amortisation and exceptional items

Group chief executive Keith Cochrane said that the year had seen substantial corporate activity.

"We face a number of opportunities and challenges with our principal focus being the restructuring of Coach USA, the delivery of passenger volume and revenue growth within UK Bus and success in the rail refranchising process currently underway. Our strategy remains focused on our core bus and rail operations where we believe there remain significant opportunities to generate shareholder value.

"We have strengthened the management team at Coach USA and our restructuring programme is firmly underway. We are working hard in preparing innovative bids for South West Trains and East Coast Main Line, in conjunction with Virgin, and have commenced our strategic review of UK Bus."

Brian Souter, chairman, said: "I am pleased to welcome Russell Walls to the Board as a non-executive director. Russell will bring considerable international experience, and I look forward to working with him."

Further details, including the Chairman’s statement, the Chief Executive’s and Finance Director’s reviews and full accounts are available to download in Acrobat PDF format.

To view this format you will need the Acrobat Reader.

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