National Express in growth drive
Birmingham-based National Express said that 2010 had been a year of “tremendous success”. The company, which experienced growth in each of its transport divisions, said that it is now looking to expand its bus, coach and rail portfolios.
National Express revealed its plans through its pre-close statement to the London Stock Exchange this morning. The company’s UK coach division experienced underlying revenue growth of more than 3 per cent year to date.
Its rail business also delivered an increase in revenue of 7 per cent in the fourth quarter.
The company also has depots in Spain and North America, which it said “continued to perform strongly”. Underlying revenue grew by just over 1 per cent in Spain, whilst the North America division has grown 6 per cent year-on-year.
Dean Finch, National Express' group chief executive, said: "2010 has been a year of tremendous progress for National Express. This is now a much improved business, back on a sound footing and with a strengthened management team, delivering stronger margins and better customer service.
"We will complete our business recovery programme ahead of schedule, and will look to grow our bus, coach and rail portfolio, leveraging our international presence and delivering value for customers, stakeholders and investors alike."
