Stagecoach Cheers City with Resilient First Half Shares Up 5.5per Cent As Souter Says Fresh Bid for Rival Unlikely

Summary

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STAGECOACH chief executive Brian Souter yesterday played down the likelihood of another takeover bid for National Express after cheering investors with an unexpectedly resilient set of firsthalf figures.

Shares in the company soared 5.5per cent after it posted a 22per cent fall in pre-tax profit before exceptional items to GBP64.4m for the six months to October 31 and boosted its dividend 11.1per cent.

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Extract

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Stagecoach Cheers City with Resilient First Half Shares Up 5.5per Cent As Souter Says Fresh Bid for Rival Unlikely

Among the costs for the period was a GBP2.7m bill incurred attempting to first buy some, then all, of National Express earlier this year.

Stagecoach indicated another move for the...

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