Fuel costs and environmental concerns are driving people on to public transport faster than economic slowdown is reducing custom, said Stagecoach on Wednesday as it unveiled a 17 per cent rise in revenue and a 7.7 per cent increase in underlying pre-tax profits for the year.

Brian Souter, chief executive, said, “We are not experiencing any decline - in fact we are getting high growth figures”, adding that “the fundamental that has changed is car cost and climate”.

Commenting on current trading, Mr Souter said, “The prognosis for the business in the UK is extremely positive - it’s a great business to be in. ... Read full article