Stagecoach Full-Year Pretax Profit Surges

reported a 2.4 percent rise in its pretax profit for the full year and raised its dividend by 10.5 percent. The company's profit before taxation surged to GBP185.0 ($291.3 million), versus a year-ago profit of GBP180.7 million. Its revenue gained 9.4 percent to GBP3.2 billion. The company lifted its dividend to 10.5 pence per share. Chief Executive Martin Griffiths said, "These are a solid set of results notwithstanding continued tight central and local government spending, and increased competition for public transport from the private car driven by lower fuel prices."