Parked busses are seen at a Stagecoach depot in South Shields as the spread of the coronavirus disease (COVID-19) continues, South Shields, Britain, April 3, 2020. REUTERS/Lee Smith/Files
June 30, 2021
LONDON (Reuters) – British bus and coach operator Stagecoach said it expected to continue to generate positive operating profit in the future, helped by ongoing government support, although the speed of recovery from the pandemic was hard to predict.
For the year ended May 1 2021, Stagecoach’s adjusted total operating profit dropped almost 60% to 48.1 million pounds ($66.6 million)on revenue which fell 35% to 928.2 million pounds, as its operations were affected by COVID-19 lockdowns.
Stagecoach said it was encouraged by the recent easing of restrictions across Britain, with regional bus vehicle mileage rising to around 94% of pre-COVID levels, and said it had also restarted its coach networks.
($1 = 0.7224 pounds)
(Reporting by Sarah Young, Editing by Alistair Smout)
Source: One America News Network
