National Express hails strong third quarter
BIRMINGHAM-based public transport group National Express has seen third quarter group revenue increase by 3%.
The company, which operates bus and coach services in the UK, continental Europe, North Africa, North America and the Middle East, together with rail services in the UK, said in its third quarter interim statement that it had continued its storng progress with year-on-year revenue growth in every division.
The company said it remains on course to deliver its cash flow target for the year and is confident of delivering good-quality growth for 2015 as a whole.
Dean Finch, National Express Group chief executive, 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.”
During the period the company was announced as preferred bidder to operate bus services in Porto, its first entry into the Portuguese market, and it started operating services in Khouribga, its fourth contract in Morocco.
It also won three new US transit contracts this year, taking annualised revenues to over $100m, an increase of over 20%.
Meanwhile, in the UK, it has been shortlisted for the Manchester Metrolink contract, with bid submission next year.
Finch added: “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.”
