Bus operator Stagecoach Manchester saw a significant improvement in performance during the year to 30 April 2009, according to its annual accounts, recording an increase of more than 40% in operating and pre-tax profits.

Strong double digit revenue growth resulting from both volume increases and acquisitions took total turnover to £92.6m, and in the process outstripped significant increases in operating costs, which were 9.4% up at £80.0m. The resulting operating profit was £12.5m, up from £8.6m in 2008 – an increase of over 45%. Margins were 13.5%, up from 10.5%.

Reduced net interest earnings meant that the pre-tax improvement was less strong, albeit still impressive.

Recent expansion has included the acquisition of A Mayne & Son Limited during 2008 and certain services and vehicles operated by R Bullock & Co (Transport) Ltd in 2009.

More information on TAS Business Monitor