National Express resilient in austere times
BIRMINGHAM transport group National Express has reported “resilient” trading, despite what it refers to as the increasing challenges of austerity.
In its third quarter interim management statement the firm, which operates bus and coach services in the UK, Continental Europe, North Africa and North America, together with rail services in the UK, said profit is on target to meet the board’s expectations for the year.
Key developments in the third quarter have included strong performance in the UK bus sector, reflecting continued investment in fleet and improved customer service and initial signs of a return to overall passenger volume growth in UK coach.
Dean Finch, group chief executive, said: “We continue to deliver a robust performance, despite austerity pressures on public and consumer budgets. We are focused on our fleet investment, on driving greater cost efficiency and are relentless in our focus on customer service.
“We are playing an active part in the current review of the UK rail refranchising programme and are developing a pipeline of opportunities across our portfolio in the US, Europe and North Africa to drive medium-term growth.”
National Express says it remains on track to deliver its profit expectations for 2012. But it warns that the outlook for 2013 remains challenging with low economic growth, government funding pressure and fuel cost inflation likely to constrain progress.
“However, our developing pipeline of opportunities in new and liberalising markets will present attractive avenues for growth. With our proven management team, the diversity of our businesses and continued growth in demand for high quality public transportation, we have confidence in our long-term prospects,” it said.
