National Express drives revenue growth
Birmingham-based coach transport National Express is “making great progress in UK coach and rail”, said its chief executive. Dean Finch’s comments came as the company revealed that its bus division had increased its operating profit by £5m for the third quarter of 2010.
The company’s interim management statement, released this morning, also said that underlying revenue in its UK coach division increased by 4 per cent for the year to date.
National Express admitted that “competition from advanced purchase rail tickets remains strong”, but said that it continued to enjoy good growth.
The company’s North America division also enjoyed a positive year. It returned to revenue growth in the third quarter with the successful start-up of 1,600 new routes, said National Express.
National Express chief executive, Dean Finch, said: "Whilst the economic outlook remains challenging, National Express is well placed to drive margin improvement through its growth, yield management and cost control initiatives.
"We are making great progress in UK bus, rail and North America, whilst delivering strong, stable returns in our other two businesses, Spain and UK coach. We are driving real improvement for shareholders and customers alike."
