It looks lovely to most people, a stunning vista of Scotland at its best, but for investors the empty seats on Stagecoach’s Glen Nevis tour are anything but pretty. Indeed, after the company admitted to a faltering performance from its regional bus routes, those investors wasted little time yesterday in disembarking.

Shares in the transport group plunged 28.2p, or 7 per cent, to 379.2p after it revised down profit from its British bus and North American businesses. However, it insisted that its share of profit from Virgin Rail Group, in which it has a 49 per cent stake, would offset the reduced profits elsewhere in the group.

It also warned that the plunging price of oil would not necessarily feed through to better profits because it may be forced to pass on savings to passengers because of competitive pressures and the lure of cheaper fuel for motorists. The company also said that it was being forced to pay staff more to fill vacancies, a sign that the tighter jobs market is beginning to push up wages.

Stagecoach reported pre-tax profit of £98.3 million for the six months to the end of October, marginally lower than last year’s £98.5 million. Revenue rose 4.8 per cent to £1.5 billion.