TRANSPORT group National Express said yesterday that trading improved in the third quarter thanks to a busy August bank holiday period, and it is on target to meet its full-year expectations after a tough first half.
The bus and train operator said group revenue rose five per cent in the quarter, with its UK coach service revenue jumping nine per cent thanks to record passengers during the August bank holiday week.
Like-for-like revenue at the group’s Moroccan urban bus business rose 11 per cent in the year-to-date and the impacts of austerity at its Spanish coach unit were offset by new contracts, leaving revenues flat and third-quarter profit slightly higher year-on-year.
National Express posted a 12 per cent fall in pretax profit in the first half of 2013, hit by the closure of its East Anglia rail service and rising fuel prices.
City A.M. Reporter