Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Train and bus company Stagecoach reported a 39% fall in annual profit after pandemic-related lockdowns and other restrictions weighed on sales.
Pre-tax profit for the year through May dropped to £24.7 million, down from £40.6 million year-on-year, as revenue dropped 35% to £928.2 million.
Stagecoach declared no dividends for the year.
Chief executive Martin Griffiths said the company was confident there was a 'strong and positive future for public transport' as the UK emerges from the pandemic.
'While it is difficult to reliably forecast the pace of recovery from the Covid-19 pandemic, we continue to see good long-term prospects for the business,' he said.
'Looking ahead, we see a positive outlook as our bus, coach and tram services play a critical role in tackling climate change, delivering economic recovery, and ensuring healthier and more connected communities.'