National Express boss: UK economic environment ‘catalyst’ for shift to coach travel October 20, 2022 The UK’s economic woes have become a “catalyst” for the modal shift to coach and bus travel, according to National Express. Chief executive Ignacio Garat told City A.M. that coach and bus travel has “proven to be the most efficient” way to get around the country. “It is the most cost effective mode of transport [...]
Former M&S CFO Helen Weir named new chair of National Express September 8, 2022 Former M&S CFO Helen Weir has been named the new Independent Non-Executive Director and Chair Designate of National Express.
National Express ‘well-positioned’ for future as bus titan posts highest revenue increase in decade July 28, 2022 National Express said it was “well-positioned” for the future as the transport titan posted its biggest revenue increase in over a decade. “We’re well positioned to manage inflationary pressures and the potential impact of an economic downturn,” chief executive Ignacio Garat told analysts this morning. In the six months ended 30 June, National Express brought [...]
Analysts downgrade National Express following margin pressures June 8, 2022 Analysts at Peel Hunt have downgraded National Express’s ratings from Buy to Hold after the company said keeping prices affordable will slow its margin recovery. Peel Hunt have also cut National Express’s earnings per share forecasts by around 20 per cent. “This is clearly disappointing, but the medium-term targets remain in place and the group [...]
National Express: Profit recovery held back by desire for low UK fares as demand recovers June 7, 2022 Coach operator National Express said its endeavour to keep price affordable for UK users will limit the pace of its margin recovery. The company made the headlines when its offer to buy rival Stagecoach was snubbed in favour of German asset manager DWS Infrastructure. National Express reiterated an expectation for an average profit margin of [...]
Stagecoach merger creates superior value than DWS offer, says National Express March 17, 2022 A merger between rivals National Express and Stagecoach could unlock higher dividends for shareholders compared with DWS’s offer, National Express said today. According to National Express, a merger could see share value go up to 170p per Stagecoach share – a 66 per cent premium on the 105p offered last week by German asset manager [...]
National Express believes Stagecoach offer was ‘compelling’ as results improve March 10, 2022 Mobility giant National Express said its £445m takeover proposal made to Stagecoach was ‘compelling’ after Stagecoach snubbed it in favour of asset manager DWS. “We continue to believe that we made a compelling offer for Stagecoach, providing both sets of shareholders with the opportunity to share in the significant value created from both the material [...]
Zenobe bags National Express contract for 130 electric buses February 15, 2022 Battery provider Zenobe has bagged a contract with National Express to supply 130 electric buses as well as charging infrastructure and replacement batteries. Jointly funded by National Express and Zenobe, the project will also tap into Department for Transport’s (DfT) funding. The fleet, built by NFI group, will operate in Coventry with Zenobe taking charge [...]
National Express and Stagecoach announce merger, creating £1.9bn company December 14, 2021 Coach giant National Express and rival Stagecoach have announced they will merge by late 2022, reaching an agreement after months of talks. Following the announcement, shares for both Stagecoach and National Express surged, going up 12 and 2.98 per cent respectively. The new company – which will have a fleet of around 40,000 vehicles and [...]
Stagecoach profits rocket as passenger journeys boom December 8, 2021 Stagecoach’s profits have gone up 104.3 per cent in the half year ended 30 October, rocketing to £32.9m compared with £16.1m registered in the same period last year. Earnings per share went up from 0.1p to 2.7p in the same timeframe. The transport giant’s revenues have also hiked from £454.6m to £579.4 as a result [...]