U.K. Terror Attacks Weighing on Train Travel, Stagecoach Says
- Company’s shares plunge as full-year earnings tumble
- Economic, political uncertainties also hurting demand
Armed police officers patrol in London on June 4, 2017
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Stagecoach Group Plc said a spate of terrorist attacks in the U.K. is beginning to weigh on railway demand as some people avoid making trips to London. The stock fell the most in a year after 12-month earnings plunged 83 percent.
Uncertainty about the future of the economy after last year’s Brexit vote and an increase in car journeys as fuel remains relatively cheap is also taking a toll on train bookings, Chief Executive Officer Martin Griffiths said Wednesday in an interview.