NATIONAL EXPRESS is to continue to seek out international opportunities after being “particularly pleased” with the performance of its North American acquisitions.
It completed three acquisitions in North America during the first-half of 2016, adding 420 school buses and 80 transit vehicles. It also bought a planning and scheduling software provider in the paratransit market.
Revenue for the six months to June increased by 14% to £1.1bn, with pre-tax profits up 5% to £56.9m.
Dean Finch, National Express Group chief executive, said: “We have made a good start to 2016 and despite subdued growth in the UK we remain on track to deliver our expectations for the year.
“The diversity of our cash generative, international portfolio of businesses where two thirds of our earnings are generated outside of the UK, is a key strength that allows us to grow and to declare a 5% increase in the interim dividend.”
He added: “We have been particularly pleased with the performance of the North American businesses we acquired last year which are generating strong returns both in terms of profit and cash validating our strategic decision to increase our investment in this attractive market.”
