Stagecoach sees adjusted EPS of 12-14p; Liquidity up to £814m
By Frank Prenesti
Date: Thursday 28 May 2020
(Sharecast News) - Bus operator Stagecoach said it expected full year adjusted earnings per share of between 12.5p - 14p as it reported an increase in available liquidity to deal with the coronavirus impact.
The company on Thursday said available liquidity of £814m was £308m higher than reported on April 3 after it issued £300m of commercial paper under the Bank of England's Covid-19 corporate financing facility.
Stagecoach added that capital expenditure would be lifted by £14m for 2020/21, mainly to
include additional vehicles available for delivery in the short-term.
The government on Tuesday said it was providing an extra £254m for buses and £29m for trams and light rail to help increase the frequency and capacity of services as lockdown measures are eased in England.
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