18th Dec 2006 07:02
National Express Group PLC18 December 2006 18 December 2006 National Express Group PLC Pre close trading update National Express Group ("the Group") reports on trading for the year to 31December 2006, prior to entering its close period. We are pleased to report thatthe Group is trading ahead of our expectations. Alsa is trading well in its first full year as part of the Group. We havecarried more passengers in our long distance coaching division and have beenencouraged by the first use of promotional fares and the level of sales throughthe internet. Our urban division has grown with the regular award of newbusiness throughout the year. It is clear that many growth opportunities existwithin Alsa's core markets. Our trains division experienced an improved second half with strong passengergrowth across our portfolio. Our operational performance continues to lead theindustry with Midland Mainline and c2c holding the top positions in theirrespective industry league tables. We look forward to submitting our bids forthe East Midlands and New Cross Country franchises in February and March 2007,respectively. Our coach division has again performed well. We have continued to invest in ourcore scheduled coaching network and in improving our customer facilities. Theintroduction of a wide range of yield managed fares has led to passenger growthof 5.5% in the second half of the year. In North America our student bus operation continued its progress and start-upof the new contracts went well. We are optimistic that recent growth rates canbe maintained and anticipate another strong bid season. Over the past two weeks,we have been impacted by some severe weather across the Mid-West resulting in anumber of days when schools were closed. As announced in September, we are indiscussions relating to the sale of Stewart Airport in New York State. We expectto conclude these negotiations in the first quarter of next year. Our UK bus division has delivered in line with our expectations despitesignificant increases in fuel costs this year. We continue to work closely withCentro, Birmingham City Council and the seven district councils in the region todevelop new ways of attracting passengers on to our buses in the West Midlands.We are pleased with the output from a number of joint initiatives in Coventryand there has been a welcome return to growth amongst our concessionarypassengers. The Group is ending 2006 strongly and we are excited by the number of newopportunities that present themselves next year. Consequently, we remainconfident about the Group's future growth prospects. The Group's preliminary results for the year ending 31 December 2006 will beannounced on 1 March 2007. • There will be an analyst conference call at 0830 hours on Monday 18December 2006 - further details are available from Katie Millett at FinancialDynamics on 020 7831 3113. For further information: Adam Walker/Nicola 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:
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