Portfolio

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.

..

Email this article to a friend

or share it with one of these popular networks:


Top of Page