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Transport operator Stagecoach announced the financial performance of its non-rail operations are broadly in line with expectations in a trading update.
Its forecast of adjusted earnings per share, both inclusive and exclusive of rail businesses, for the year ending 2 May 2020 is unchanged from when it announced full-year results in June 2019.
Like-for-like revenue growth at Stagecoach's UK bus division was 1% for the 20 weeks ended 14 September 2019.
In April, Stagecoach announced a share buyback programme to buy back shares with an aggregate market value of no more than £60m.
Since then until the close of business on 2 October 2019, the company bought back 21,830,035 ordinary shares at a cost of approximately £28.5m.