March 23, 2020 / 7:33 AM / 6 days ago

BRIEF-Stagecoach warns on profit due to coronavirus

March 23 (Reuters) - Stagecoach Group PLC:

* STAGECOACH GROUP PLC - TRADING UPDATE

* STAGECOACH GROUP PLC - QUICKLY DEVELOPING COVID-19 SITUATION MEANS WE NO LONGER EXPECT TO ACHIEVE OUR PREVIOUS EXPECTATION

* STAGECOACH GROUP PLC - EXPECT TO MAINTAIN A SIGNIFICANT PROPORTION OF OUR REVENUE DURING DOWNTURN

* STAGECOACH GROUP PLC - CONTINUING TO ENGAGE WITH GOVERNMENT AND LOCAL AUTHORITIES ON OTHER TARGETED MEASURES WHICH WILL PROTECT SECTOR JOBS

* STAGECOACH GROUP PLC - REDUCING OUR REGIONAL BUS MILEAGE TO TAKE ACCOUNT OF CHANGES IN CUSTOMER DEMAND

* STAGECOACH GROUP PLC - RECENT DAILY DATA SUGGESTS THAT COMMERCIAL PATRONAGE IS NOW DOWN AROUND 40% AS A CONSEQUENCE OF COVID-19 SITUATION

* STAGECOACH GROUP PLC - COVID-19 SITUATION HAS ADVERSELY AFFECTED BUS PATRONAGE IN LONDON

* STAGECOACH GROUP PLC - IN RAIL, WE CONTINUE TO EXPECT 2019/20 OPERATING PROFIT FROM OUR NOW-EXPIRED, WHOLLY OWNED RAIL FRANCHISES

* STAGECOACH- DIRECTORS SACRIFICING 50% OF SALARIES / FEES FOR PERIOD OF TIME, TO NOT GET BONUSES FOR 2019/20, TO NOT GET ANY PAY INCREASE IN 2020/21

* STAGECOACH GROUP PLC - CONSIDER IT UNLIKELY THAT WE WILL PROPOSE ANY FURTHER DIVIDENDS IN RESPECT OF YEAR ENDING 2 MAY 2020 Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

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