stagecoach

Shares in travel company Stagecoach (LON:SGC) saw shares sink 2.5 percent on Tuesday, after a weak performance for its UK bus company and business in North America.

UK bus regional revenue fell by 0.1 percent on a like-for-like basis, after severe weather across the country impacted on results. In London, bus revenues fell by a hefty 4.3 percent.

In its North American business, year-to-date like-for-like revenue had fallen by 0.6 percent.

Its rail service in the UK fared better, however, seeing like-for-like revenue at its UK rail division (but excluding South West Trains) grow by 3.2 percent in the 44 weeks to 3 March. Revenue at its joint venture with Virgin Trains grew by 2.8 percent.

“Our expectation of the group’s adjusted earnings per share for the year ending 28 April 2018 has not changed from when we announced our interim results in December 2017,” Stagecoach said.

Shares in Stagecoach are currently trading down 2.52 percent at 127.90 on the news (0848GMT).