27th Jun 2005 07:00
National Express Group PLC27 June 2005 For announcement at 0700 hours on 27 June 2005 National Express Group PLC Pre-close trading update National Express Group today reports on trading for the six months to 30 June2005, prior to entering its close period. The Group is pleased to report that earnings remain in line with expectationsand that it continues to generate strong operating cashflow. The Group will bemeeting with analysts this week. Our trains division is trading well. The recent focus on improving operationalperformance has resulted in the Group currently running seven of the UK's topnine best performing train operating companies. Following receipt in early June of the Invitation to Tenders for Greater Westernand Thameslink/GN franchises, we are preparing our bids for submission inSeptember. We continue to work closely with the Strategic Rail Authority and nowthe Department for Transport on franchise remapping, in particular concerningthe future of Central Trains, Midland Mainline and Silverlink. The coach division has experienced sustained passenger growth following anincrease in the number of best value fares offered and further improvements tothe route network. We have continued with our strategy of investing in customerfacilities and developing our product offering, as more passengers are attractedto the coach network. Despite increases in fuel costs, our bus operations are trading in line withexpectations. In the West Midlands, passenger growth remains a challenge,particularly amongst concessionary fare travellers. In London, we were pleasedto complete the acquisition of the Tellings Golden Miller bus operations whichhas doubled our presence in this growing market. In North America, we are nearing the end of another successful school bus bidseason and have experienced good organic growth at a number of our schoolcontracts. We have maintained our market leading margins in this area. Therecent trend of stabilisation in our public transit operations has continued. We have completed the restatement of the Group's 2004 results underInternational Financial Reporting Standards and have issued these today in aseparate announcement. Our interim results will be announced on 28 July 2005. - E ND S - • There will be an analyst conference call at 0930 hours on Monday 27June 2005 - further details are available from Dido Laurimore at FinancialDynamics on 020 7269 7144. For further information: Adam WalkerNicola MarsdenNational Express Group PLC 020 7529 2000 Andrew Dowler/Ben FosterFinancial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NEX.L