Time to get off the buses
Sunday 12 October 1997
Worth pounds 1.6bn, Stagecoach is a remarkable story. In the past year or so it has bought South West Trains under the rail privatisation programme, and has expanded abroad with operations in Africa, Sweden and New Zealand.
Shareholders who bought in at the flotation in 1993 have seen the value of their investment grow six-fold, outstripping the market by 500 per cent.
But at the same time the market has cooled. While Footsie has enjoyed one of its strongest bull runs, Stagecoach has become a slowcoach, underperforming by almost 6 per cent.
The company's beauty has been its ability to issue extremely highly rated paper to fund acquisitions of lower-rated companies. This has always been a way to a quick earnings boost. Mr Souter is convinced Stagecoach can continue on this road, although such companies often come a cropper. On balance it is time to take profits. Sell.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Number of young homeless people in Britain is 'more than three times the official figures'
- 3 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
- 4 The biggest first date turnoff has been revealed
- 5 German man found living with 300 rats in tiny apartment
BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
Isis propaganda video shows 25 Syrian soldiers executed by teenage militants in Palmyra
Number of young homeless people in Britain is 'more than three times the official figures'
Budget 2015: George Osborne to axe subsidies for higher income earners in social housing
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...