Stagecoach is on right road despite downturn

TRANSPORT group Stagecoach said today it believed its portfolio of bus and rail operations should be "relatively resilient" in an economic downturn.

The Scottish firm told investors that it was trading in line with expectations, with half-year like-for-like revenues growth of 9.2 per cent for its UK bus operations and a rise of 8.3 per cent for its UK rail arm.

However, Stagecoach warned it was ready to implement cost savings in its rail businesses "if and when appropriate".

In a statement, it added: "Although the uncertain economic environment reduces medium-term visibility of financial performance, the group's portfolio of businesses should be relatively resilient to the effects of declining economic growth."