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(Add details about the rail business, background)
APRIL 3 (Reuters) – British transport company Stagecoach said on Wednesday that it expects an adjusted annual profit higher than its previous expectations, thanks to additional gains resulting from the improved performance of its rail activities.
The optimistic earnings outlook comes a few months after Stagecoach announced an expected profit of 18.3 pence per share for the end of the year at the end of April and warned against the loss of the train management contract between London and Edinburgh .
The reduction in the size of its rail business, due in large part to the fact that the British government took over the East Coast rail line from Stagecoach last May, also prompted the transport company to reduce its dividend.
The company said the comparable business figure of its rail business in the UK, excluding the Virgin Rail rail line from the east coast, had risen by 1.4% over the past year. Forty-four weeks ended March 2, while Virgin Rail's revenue rose 6.7%.
"We continued to make progress in achieving favorable results related to the completion of the industry royalty and contractual issues badociated with the expired South West Trains franchise, which resulted in additional earnings during the year. exercise, "the company said in a statement.
The comparable revenues of its regional bus division increased by 3.4%, while those of the London bus segment increased by 1.3%. (1 $ = 0.7599 books) (Report of Justin George Varghese in Bengaluru, edited by Bernard Orr and Arun Koyyur)
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