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Stagecoach issues "modest" downgrade to FY earnings forecast 

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 9 (Reuters) - British rail and bus operator Stagecoach downgraded "modestly" its annual earnings forecast due to a fall in travel to big cities since mid-November, a trend it blamed on militant attacks in Paris.

Stagecoach said it believed the attacks which killed 130 people in the French capital on Nov. 13, had discouraged visits to major cities.

"Since mid-November, we have seen a reduction in the rate of revenue growth in parts of our rail and inter-city coach operations in the UK and continental Europe," the company said in a statement on Wednesday.

The company said as a result it would modestly revise down its forecast for adjusted earnings per share for the year ending April (LSE: 0N69.L - news) 30. It (Other OTC: ITGL - news) added that it expected a recovery in those growth rates.

(Reporting by Sarah Young; editing by Kate Holton)