LONDON (dpa-AFX) - Stagecoach Group plc (SGC.L) reported pretax profit of 17.9 million pounds for the year ended 29 April 2017 compared to 104.4 million pounds, previous year. Profit from continuing operations was 18.1 million pounds compared to 99.0 million pounds. Earnings per share from continuing operations was 5.5 pence compared to 17.0 pence. Excluding intangible asset expenses and exceptional items, pretax profit was 158.7 million pounds compared to 187.4 million pounds, prior year. Adjusted earnings per share from continuing operations declined to 24.3 pence from 27.6 pence.
Fiscal year revenue was 3.94 billion pounds compared to 3.87 billion pounds, last year. The Group has proposed a final dividend of 8.1 pence per share, which, if approved, would give a total dividend per share for the year up 4.4%.
Looking forward, Stagecoach Group stated that it has made a satisfactory start to the year ending 28 April 2018 and has not significantly changed its expectation of adjusted earnings per share for the year.
Chief Executive, Martin Griffiths, said: 'We are engaged in discussions with the Department for Transport regarding our respective contractual rights and obligations under the current Virgin Trains East Coast franchise and reflecting the reprioritisation of Network Rail's infrastructure programme. However, separately we have made financial provisions to reflect the short-term outlook for that business over the next two years, including in view of the weak growth environment affecting the UK rail sector as a whole.'
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