‘Strong progress’ for NatEx
National Express Group Plc has continued to deliver ‘strong progress’ in the period from 1 July to 30 September 2015 according to its latest Interim Management Statement. Revenue has grown year on year in every division on a constant currency basis, with Group revenue up 3%. Like-for-like Group operating profit rose 7% in the period and record passenger numbers were reported. It remains on track to deliver its target of free cash flow at £100m in 2015.
Commercial revenue growth of 2% was recorded in National Express’s UK Bus business during the period. It delivered its highest ever customer satisfaction results in the latest Transport Focus survey and has also had a five year ‘Bus Alliance’ with the West Midlands ITA approved, which succeeds its existing partnership . It experienced strong revenue growth of 3.5% in its core UK Coach business helped by record passenger numbers in July.
National Express Group Chief Executive, Dean Finch, said, ‘I am delighted that our focus on operational excellence and delivering for our customers is being recognised in our results, our success in new markets and the many awards we have recently won. Our reputation for delivering excellent services for our customers at great value has helped us grow our business, open new markets and generate strong cash flows and grow shareholder returns. In recent months we have won or started new contracts in Spain, Portugal, Morocco and North America and we will shortly start running our first trains in Germany. I look forward to continuing to build on this success in the coming months and years.’
National Express was named as the highest ranked public transport operator in the UK Customer Service Index. It has secured a five year extension to its operations at Heathrow’s Central Bus Station and has strengthened its presence at Stansted Airport through a new contract to operate coach services to and from the site, as well as a new staff shuttle contract commencing in the period.