Stagecoach shares have tumbled 14% this morning after the issuing a warning with its interim report that earnings will below expectations, revenue is down following the Paris Terriorist attacks & reduced revneues + reduced revenue growth. Stagecoach shares are now at the lowest level in nearly 2 years:
http://otp.investis.com/clients/uk/stagecoach/rns/regulatory-story.aspx?cid=273&newsid=622147
http://www.telegraph.co.uk/finance/newsbysector/epic/sgc/12040940/Stagecoach-issues-sales-warning-as-Paris-attacks-discourage-passengers.html
http://www.standard.co.uk/business/stagecoach-shares-plunge-after-paris-attacks-hit-revenue-a3133046.html
Stagecoach shares have hit new 52 weeks lows after this morning's Final Result announcement, largely due to an potential £84million exceptional hit against Virgin Trains East Coast:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SGC/13275349.html
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=/amp/www.insider.co.uk/news/paul-thomas-appointed-stagecoach-east-10701540.amp&ved=0ahUKEwjt3qGPreHUAhWHK1AKHR3qBCMQiJQBCD0wCA&usg=AFQjCNE1NnbNDmoYgmAJu2qjEsoFxJvsrw
Another operator of the ECML to have overpaid:
https://www.theguardian.com/business/2017/jun/28/stagecoach-says-it-has-overpaid-for-east-coast-rail-contract
Have they been caught out by claims of increased passenger numbers, when the increase is actually due to split ticketing and more accurate counting by automatic barriers?
;
ECML not a patch on WCML.....
https://www.flickr.com/gp/92409298@N06/5499Ki
Stagecoach gets back on the bus to a smaller future.
https://www.theguardian.com/business/2019/jun/23/stagecoach-brian-souter-last-train-smaller-future-railway
The paper says 'A smaller, humbler Stagecoach Group is set to unveil annual results on Wednesday. Its American dream has ended, and it faces a final departure from the UK railway network it once dominated.'
Stagecoach Group Half Year results:
https://www.stagecoach.com/media/news-releases/2019/2019-12-11.aspx
More interestingly, Brian Souter is stepping down as Chairman from 31st Dec 2019 to be succeeded internally by Ray O'toole (a former NX Group CEO)
Stagecoach PLC have today announced all MEGABUS services in England & Wales SUSPENDED it is of interest to First Worcester customers as Stagecoach serve the First Worcester operating town of Evesham as Midland Red (South) Limited
Stagecoach have today announced they've slashed their previously announced capital expenditure for 2020/21 by £83 million for new fleet:
- The group has reduced its previously planned 2020/21 capital expenditure (£105m of cash capital expenditure and £38m of new leases). For the time being, its planned 2020/21 capital expenditure is limited to £40m of cash capital expenditure and £20m of new lease
- The group has around £506m of available cash and undrawn, committed bank facilities.
Full article:
https://otp.tools.investis.com/clients/uk/stagecoach/rns/regulatory-story.aspx?cid=273&newsid=1384170
Trading update:
Positive cash flow, increased borrowing capacity & 2020/21 capital expenditure on new vehicles increased by +£14 million since announcement slashing it.
https://otp.investis.com/generic/regulatory-story.aspx?cid=273&newsid=1393256
Quote from: Winston on May 28, 2020, 09:10:34 AM
Trading update:
Positive cash flow, increased borrowing capacity & 2020/21 capital expenditure on new vehicles increased by +£14 million since announcement slashing it.
https://otp.investis.com/generic/regulatory-story.aspx?cid=273&newsid=1393256
It is noteworthy following todays statement to the citt the credit rating houses have changed Stagecoach PLC credit rating from negative to stable whereas National Express PLC & FirstGroup who are regarded credit risk wise as negative.
Stagecoach PLC have today released its financial results although net residue incomes have fallen by 25% the company has not issued the same long term viability warnings which FirstGroup were required to do.
https://m.stagecoachgroup.com/media/news-releases/2020/22-07-2020.aspx
From what I have read, it looks like National Express are looking to takeover Stagecoach!
https://dailybusinessgroup.co.uk/2021/09/national-express-in-talks-to-acquire-stagecoach/#:~:text=National%20Express%20has%20confirmed%20that%20it%20is%20negotiating,Express%20ordinary%20shares%20for%20each%20Stagecoach%20ordinary%20share.
Shades of 2009 but turned the opposite way round
Stagecoach FY Results to 30th April 2022:
https://www.thisismoney.co.uk/money/markets/article-10964549/Stagecoach-posts-1-17bn-revenue-does-not-resume-dividend.html
https://www.stagecoachgroup.com/~/media/Files/S/Stagecoach-Group/Attachments/media/publication-financial-reports/preliminary-results-29-june-2022.pdf
Convoy of D/Ds travelling south on the M6 today, presume there off to Silverstone for the GP.
Quote from: Mayfield on July 04, 2024, 10:24:06 PMConvoy of D/Ds travelling south on the M6 today, presume there off to Silverstone for the GP.
Out of interest which from depot? Rugby or Nuneaton or somewhere else?
Quote from: Sandy Lane on July 05, 2024, 08:53:06 AMOut of interest which from depot? Rugby or Nuneaton or somewhere else?
Probably from the North West or Manchester
Quote from: Sandy Lane on July 05, 2024, 08:53:06 AMOut of interest which from depot? Rugby or Nuneaton or somewhere else?
I believe there's some uni bus mmcs going
Quote from: markcf83 on July 05, 2024, 09:33:13 AMProbably from the North West or Manchester
That's a lot of dead mileage built into the contract I guess?
Quote from: Mayfield on July 04, 2024, 10:24:06 PMConvoy of D/Ds travelling south on the M6 today, presume there off to Silverstone for the GP.
Out of interest for the F1 event Silverstone is offering regular bus connections from Milton Keynes, Northampton and Banbury rail stations on Thursday, Friday, Saturday & Sunday.
Seems return tickets should be booked on-line in advance. Todays (Saturday) price is £12 and Sunday is £16.
https://www.silverstone.co.uk/events/formula-1-british-grand-prix/getting-here
Sounds quite a profitable operation to me?
Bus times looks very busy at the moment on the A43 with masses of people currently travelling to Silverstone for the F1 event.