Lift for Stagecoach

Shares in Stagecoach, the highly acquisitive and often-criticised bus operator, rose 5p to 283p on news of a 43 per cent jump in half-year pre- tax profits to pounds 20.7m. The dividend for the six months to 14 October is being boosted by 27 per cent to 2.1p. Brian Souter, chairman, said he was confident about prospects for the rest of the year, and added that the company expected a February court hearing to challenge the Monopolies and Mergers Commission's enforced sale of its 20 per cent shareholding in Strathclyde Buses and Mainline (Sheffield.)

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