Stagecoach's full-year profits 'on track'

Transport group Stagecoach operates buses and train services across the UK

Transport group Stagecoach has said it is on track to meet its full-year profit targets after a rise in revenues at both its bus and rail operations.

At its UK rail unit, which includes South West Trains, like-for-like revenues rose 6.5% in the 24 weeks to 17 October from a year ago.

Revenues under the same measurement were up 15% at Virgin Rail, in which Stagecoach owns a 49% stake.

Meanwhile, like-for-like revenues at its UK bus unit added 2.3%.

Last month Stagecoach re-entered the London bus market after buying the East London Bus Group for £53m.