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PROFITS at the UK's biggest bus group, Stagecoach, rose by two-thirds in the first half to pounds 14.5 million pre-tax, lifted by a strong performance by its core domestic businesses.
The group, which now has approximately 12 per cent of the UK bus market, is the subject of two investigations into its activities by the Monopolies and Mergers Commission. The first is into the overall bus market in the North-east of England, the other into a 20 per cent holding in Sheffield Mainline.
Brian Souter, the chairman, yesterday said that he welcomed the investigations as an opportunity "to explain...