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Commercial revenues are now back at 40 per cent of their pre-Covid level, having been at around only 10 per cent at one point during the lockdown, but its final dividend has been scrapped. Shares in the firm nonetheless surged 11. 4 per cent to 56. 2p after it revealed its latest results were published today. The FTSE 250-listed business believes it will be 'some time' before its services return to pre-Covid levels and admitted it was finding it 'difficult to reliably predict' what its profits for this financial year would end up looking like. 'Prior to the COVID-19 pandemic, the business was on track to meet its expectations for the full year, ' stated chief executive Martin Griffiths. He said Stagecoach had taken decisive action so that the business remains in as strong a position as possible and well placed to secure the significant long-term opportunities we see for public transport. ' The company now hopes the UK Government's new National Bus Strategy, which is due to be launched sometime this year as well as new funding for the sector, will lead to more passengers travelling on their services.