Loss of rail deal dents National Express profits

Marion Dakers
SHARES in National Express jumped 3.7 per cent yesterday in spite of the bus and train operator posting a 14 per cent fall in half-year profits.

The firm said its non-rail business had increased revenues by 10 per cent, helping to shore up the firm’s results in spite of uncertainty around rail franchises in Britain.

Rail revenues slumped 44 per cent to £68.9m, after its East Anglia franchise ended.

National Express posted a pre-tax profit of £71.8m, down from £82m in the same period last year. Revenues rose 2.4 per cent to £956.7m.

But trading in the last few weeks has been sunnier for the firm, which said ticket sales for seaside trips had risen 11 per cent on the year-to-date average during July.