LONDON (dpa-AFX) - Public transport provider Stagecoach Group (SGC.L) Wednesday reported profit before tax of 24.4 million pounds for the first half of the year, lower than 31.1 million pounds in the same period a year ago. However, the increase of passenger demand led to improved revenue for the period.
Excluding special items, profit before tax increased to 36.4 million pounds from 18.4 million pounds last year.
Net profit grew to 19.3 million pounds from 10.7 million pounds last year.
Excluding items, profit was 30.5 million pounds compared with 15 million pounds in the previous year.
The company said its adjusted EBITDA or earnings before interest, taxation, depreciation, software amortisation and separately disclosed items increased to 99.6 million pounds from 86.4 million pounds in the previous year, primarily reflecting the recovery in passenger demand for public transport in response to the easing of COVID-19 restrictions.
Revenue for the period increased to 669.6 million pounds from 579.4 million pounds last year.
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