LONDON (dpa-AFX) - Stagecoach Group plc (SGC.L) said it estimates adjusted earnings per share for the year ended 2 May 2020 will be between 12.5 pence and 14.0 pence. The Group now expects to publish its preliminary results for the year ended 2 May 2020 in late July.
Stagecoach Group stated that its available cash and undrawn, committed bank facilities have increased to over 800 million pounds as at 27 May 2020. The available liquidity has increased significantly due to positive cash flow and new borrowing capacity. The Group has increased its planned 2020/21 capital expenditure by 14 million pounds from the previously issued figure.
Consolidated net debt as at 2 May 2020 is between 350 million pounds and 360 million pounds (or between 270 million pounds and 280 million pounds on a pre-IFRS 16 basis). Since the Group's statement of 3 April 2020, it has seen positive cash flow (excluding movements in borrowings) of approximately 8 million pounds.
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