2nd Jul 2007 07:01
National Express Group PLC02 July 2007 National Express Group PLC Pre Close Trading Update National Express Group today reports on trading for the six months to 30 June2007 prior to entering its close period. We have made a good start to the yearand are trading in line with our expectations. In Spain, Alsa has experienced good passenger growth in its long distance andregional coaching operations. Last month's unseasonal poor weather particularlyaround key holiday weekends resulted in a weaker revenue performance, howeverthe first half year's results are expected to be in line with our expectations.Current bookings indicate a busy summer following increased promotional activityand the launch of a new loyalty scheme. Further to our announcement relating tothe acquisition of Continental Auto in April, discussions are ongoing with theSpanish competition authorities. Our coach division has experienced a strong start to the year particularly onits airport and short distance routes with passenger growth of 3%. We continueto develop our network to support major sports and arts events. In April, webecame the official transport provider to the new Wembley Stadium. Since then wehave carried over 10,000 passengers to the venue on our coach services. Forwardbookings across the division for our key summer period are strong. Our bus division performed well in the period. Overall passenger numbers are up2%, reflecting the first concerted growth in the West Midlands for severalyears. All parts of the business, including London, are delivering positiveresults. We continue to work with Centro on the development of a new PartnershipAgreement in the West Midlands reflecting a renewed desire by all parties tosecure further patronage growth. Our North American operation has enjoyed its best ever bid season securing over$38 million worth of new contracts including a number of new conversions. Inaddition, we have retained over 98% of our contracts. Our outlook for this partof the business remains particularly positive. We have enjoyed sustained growth in our trains division with our "one" franchisedelivering double digit passenger growth and passenger numbers across thedivision up by 6% in the first half of the year. We continue to deliver industryleading operational performance. Whilst the result for the new East Midlandsfranchise was disappointing, we await the outcome of the New Cross Country andInter-City East Coast bids. Our results for the six months ended 30 June 2007 will be announced on 26 July 2007. - ENDS - • There will be an analyst conference call at 0900 hours on 2 July 2007. Details can be obtained from Suzanne Bartch at Maitland on 020 7379 5151. For further information, please contact: National Express Group +44 20 7529 2000Richard Bowker, Chief ExecutiveAdam Walker, Finance DirectorNicola Marsden, Director of Group Communications Maitland +44 20 7379 5151Neil Bennett/ Suzanne Bartch/Brian Hudspith This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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