29th Oct 2015 07:43
LONDON (Alliance News) - Transport operator National Express Group PLC on Thursday said it delivered constant currency growth in all of its divisions in the second quarter, with like-for-like operating profit also increasing.
The FTSE 250-listed company said its group revenue was up 3.0% in the second quarter to the end of September on the year before, with growth in all of its divisions. Like-for-like operating profit was up 7%.
National Express's rail business was particularly strong in the period, trading ahead of original bid forecasts. Revenue in the rail arm was up 10% in the quarter, with a 5.0% rise in passenger numbers in the first half.
Its UK bus unit saw commercial revenue rise 2.0% in the quarter, while its UK coach business saw record passenger numbers in July, which helped core revenue growth 3.5%.
Its North American business secured a contract retention rate of 99.0%, excluding contracts the company decided to exit, which resulted in year-on-year revenue growth in the business, though National Express did not provide specific figures on that growth.
In the quarter, the group was announced as the preferred bidder for a bus service contract in Portugal, secured three US transit contracts, started operating in Morocco and is due to start operating its first rail service in Germany in December.
National Express also is preparing its bid for the East Anglia franchise in the UK and has been shortlisted for the Manchester Metrolink contract, with bid submission due to take place in 2016.
"I am delighted that our focus on operational excellence and delivering for our customers is being recognised in our results, our success in new markets and the many awards we have recently won," said Dean Finch, chief executive of National Express.
By Sam Unsted; [email protected]; @SamUAtAlliance
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