National Express posts revenue rise
National Express has revealed double-digit growth in earnings in the first half of 2019, helped by a strong performance across all of its divisions.
The Birmingham-headquartered transport operator delivered pre-tax profit of £88.4 million for the six months to the end of June, up 10 per cent from £80.1 million a year earlier, as revenue grew 11 per cent to £1.33 billion from £1.21 billion.
The growth has been driven in particular by strong organic growth across every division, the FTSE 250-listed company said.
The firm, which runs bus services across the West Midlands, achieved record profit in North America and saw a "very strong" growth in the UK, augmented by a record Glastonbury Festival and partnership renewal receipts.
It has enjoyed a recent growth spurt, acquiring four business – three of which were in the US.
Chief executive Dean Finch said: "I am delighted to report another record set of results, primarily driven by organic revenue, profit and margin growth in every division.
"Group free cash also grew strongly. We are currently trading ahead of expectations despite the impact of unprecedented bad weather in North America.
"The prospects for growth are strong. We continue to drive improvements in our core bus and coach businesses, add significant new contracts like Rabat and expand in newer markets such as Switzerland and US shuttle, through our recent WeDriveU acquisition.
"With many opportunities to pursue, we are confident of our future prospects."
