11th May 2016 06:45
LONDON (Alliance News) - National Express Group PLC on Wednesday said it made a strong start to 2016, with total revenue up 11% in the period on a constant currency basis, including the benefit from acquisitions and the start of German rail operations in December.
After adjusting for the new operations, revenue was up 4% on an underlying basis, the FTSE 250 public transport company said in a statement covering the period from January 1 to April 30.
All divisions achieved an increase in revenue, National Express said, driven by underlying passenger growth of 3%. The company said it remains on target to deliver its profit expectation and free cash flow and leverage targets for the year.
Pretax profit is up year-on-year on a constant currency basis, National Express said.
"I am pleased that we have carried our strong momentum from 2015 into the first third of this year, achieving growth in passenger numbers and an increase in revenues across all divisions," Chief Executive Dean Finch said in a statement.
"Our established businesses continue to grow, year-on-year, and our new businesses in Germany and Bahrain are already carrying millions of passengers, through a combination of innovation, partnership and customer service, underpinned by a relentless focus on operational excellence. We also believe this experience helps position us well for other emerging opportunities," Finch said.
By Samuel Agini; [email protected]; @samuelagini
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