Stagecoach profits slump as Covid-19 hits bus patronage

Buses

Stagecoach has reported a steep fall in revenue and the almost elimination of profit in the six months ending 31 October 2020 as Covid-19 depressed bus patronage. 

Revenue was £454.6m, just 57 per cent of the £800.2m recorded in the corresponding six months of 2019/20. This reflects both Covid-19 and the end in August 2019 of Stagecoach’s final rail franchise, East Midlands Trains. UK Rail revenues dropped from £146.3m in the first half of 2019/20 to £2.8m in...

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