Profits up at National Express as passengers return
National Express says that turnover for April is up 50% on last year as passengers return to its services.
The company revealed in a trading update this morning (May 12) that despite revenue over its first quarter being down 16%, profits are ahead of last year due to a reduction in costs. Passengers numbers are now running at around 60% of pre-Covid levels.
Ignacio Garat, group chief executive, said: “I am pleased to see the continued improving performance trajectory across our business in the first four months of 2021 despite the ongoing lockdown restrictions. It is very encouraging to see the positive impact on profit delivery of the management actions taken last year.
“I remain grateful for the tireless work and commitment of our colleagues, and for the ongoing support we continue to receive from both customers and authorities, once again demonstrating the strength of the relationships we have built over the years. Progress has been made on a number of the ‘big deltas’ outlined at the full year results presentation including the mobilisation of new fleet in Casablanca and the launch of new standard operating procedures in North America School Bus, already delivering financial benefits as part of our ‘Driving Excellence’ programme.”