Stagecoach Group PLC (LSE:SGC) increased annual revenue 27% to nearly £1.18 billion in fiscal 2022, boosted by a rebound in passenger numbers in its last set of results as a listed company.
Pretax profit of £44.1mln for the year ending 30 April was more than double the £17mln generated in 2021, a statement from the transport group added.
The profit growth reflected a “recovery in passenger volumes” as well as payments from government to ensure the continuation of transport services following Covid-19, Stagecoach said.
The bus and coach operator pointed to a recovery in demand for UK regional bus journeys, with passenger and commercial sales returning to about 81% and 91% of 2019 levels respectively.
Earnings per share were 7p, up from 2.7p per share a year earlier.
"We are not immune from the global macro-economic headwinds," chief executive Martin Griffiths said. "However, we believe our good value public transport services offer consumers help in managing the cost-of-living challenges and high fuel and energy prices, supporting our ambitions around modal shift from car to bus.”
Stagecoach said in a separate filing that its listing on the main market of the London Stock Exchange was cancelled today following its planned takeover by Inframobility UK.