25th Feb 2016 07:50
LONDON (Alliance News) - Public transport operator National Express Group PLC on Thursday said a lack of exceptional costs meant its pretax profit nearly doubled in 2015, as revenue increased thanks to positive performances across the business.
The FTSE 250-listed rail and bus services provider said its pretax profit rose to GBP124.4 million in the year to the end of December, an 87% rise on the GBP66.5 million it posted the year earlier, when it was hit by one-off costs.
Revenue rose 2.8% to GBP1.92 billion from GBP1.87 billion, driven by good trading in National Express's bus and coach operations in the UK and US, along with the start of new rail contracts in Germany and a bus deal in Bahrain.
National Express will pay a final dividend of 7.645 pence per share, up from 6.95p, taking its total dividend to 11.33p, a 10% rise on the 10.30p it paid out a year earlier.
The group said it has entered 2016 in a strong position, with revenue, profit and margins up in all divisions and the company delivering strong and sustainable free cash flow.
"This strong set of results demonstrates that our focus on operational excellence is generating excellent returns for our shareholders and customers," said Chief Executive Dean Finch.
By Sam Unsted; [email protected]; @SamUAtAlliance
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