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National Express

  • Analysts downgrade National Express following margin pressures

    NATIONAL EXPRESS

    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

    NATIONAL EXPRESS

    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

    Stagecoach takevoer

    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 [...]

  • National Express buys time as Stagecoach takeover is delayed

    October 18, 2021

    Stagecoach’s panel on takeovers and mergers has consented to an extension to the date by which National Express is required to announce its firm intention to buy the rival. National Express will have by 5pm on 16 November if it wants to go ahead and buy Stagecoach or give up on the deal altogether. The [...]

  • National Express exploring takeover of rival Stagecoach

    September 21, 2021

    National Express has confirmed reports that it is looking into a possible takeover of its fellow transport heavyweight Stagecoach. The British bus operator has started discussions around buying out its Scottish rival, the UK’s largest bus operator. Stagecoach shares rose by almost 90 per cent over the last year, reaching a market value of around [...]

  • National Express back in black as savings take effect

    July 29, 2021

    Transport operator National Express said that cost reductions had helped it return to the black in the first half of 2021 despite continuing Covid-19 restrictions. Although revenue was slightly down on last year, the FTSE 250 firm said that underlying operating profit came in at £22.9m for the period, up from a £30.6m loss in [...]

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