Transport firm Stagecoach eyeing Shropshire expansion
Transport company Stagecoach says it has grown revenue from the West Coast Main Line since its franchise was extended earlier this year.
The company has a 49 per cent stake in Virgin Rail, which runs the line and which is hoping to extend its services into Shropshire as part of the drive to introduce a direct rail link to London.
In the 12 weeks to July 20, the company said revenue from the venture had increased by 5.7 per cent.
The new franchise began on June 22, is planned to run until at least March 31, 2017. The company said: "While it is still early in the new franchise, trading to date has been strong."
Winning the extended contract helped Stagecoach to offset the effect of its failure to secure the new Thameslink, Southern and Great Northern franchise, the company added in its latest interim management statement.
It is also in discussions with the Department for Transport over extensions to its South West and East Midlands franchises, although a decision is not expected until after the General Election.
Meanwhile, more people got on board Stagecoach's buses this summer as the transport giant posted a four per cent rise in revenues from regional services.
The Perth-based company, which has operations in the UK and North America, reported a 0.9 per cent rise in bus passenger volumes outside London in the period.
Across the group, Stagecoach described overall trading as satisfactory after revenues from UK rail operations including South West Trains and East Midlands Trains rose 4.9 per cent. Its North America division posted the same rate of growth amid the continued expansion of its megabus.com service.
Around 2.8 million passenger journeys are currently made on Stagecoach buses each day, including in Liverpool, Newcastle, Hull and Manchester.
It recently placed orders worth more than £90 million on new greener buses.
