On Wednesday Stagecoach published its preliminary results for the year ended 2 May, which included a lot more detail than we have seen to date on how the lockdown and changed travel patterns resulting from COVID-19 have affected the business.
My Thesis Affirmed, Stagecoach Remains a Buy
My thesis on Stagecoach was previously set out in A Winner When Britain Is Moving Again: Stagecoach (when the shares were trading at around 67p) and again when they had fallen lower, in Stagecoach Is Not First Group: An Attractive Entry Point (when they had fallen back to