Source - SMW
Stagecoach advises that it sees its FY 2017/18 EPS broadly unchanged.

For the year to 29 April, its adjusted EPS was 24.4p a share, down from 27.7p a year earlier but in line with internal expectations.

Basic EPS was 5.5p, from down from 17.1p as a result of exceptional charges.

Stagecoach's dividend for the year was 11.9p, up from 11.4p.

"We continue to manage the business with a focus on sustainable growth over the long-term," said CEO Martin Griffiths.

"Our multi-million pound investment in greener vehicles, smart technology and skilled employees is delivering a better and easier travel experience for our customers," he said.  

"Bus and rail services are an important part of achieving long-term growth for our communities and regional economies. We are working closely with public sector partners to deliver the full benefits of high quality public transport for customers and our business.

"We are delivering on our promised improvement programmes for customers and our significant financial commitments to the taxpayer across our existing rail portfolio.  There are a number of forthcoming rail opportunities.

Griffiths said Stagecoach was engaged in discussions with the Department for Transport regarding its respective contractual rights and obligations under the current Virgin Trains East Coast franchise and reflecting the reprioritisation of Network Rail's infrastructure programme. 

"However, separately we have made financial provisions to reflect the short-term outlook for that business over the next two years, including in view of the weak growth environment affecting the UK rail sector as a whole.  

"We are disappointed to report losses at Virgin Trains East Coast.  However, I am confident that we can return the business to profitability and build on the significant benefits we have delivered to date for customers and taxpayers."