Leeds link helps put National Express on right track
The coach division, which covers 1,000 destinations in the UK, is expected to see passenger volumes rise 4% in the year to December 31 after routes were added between Liverpool airport and Leeds, Liverpool and Newcastle and Ipswich and Heathrow.
Revenues from non-concession passengers lifted 2%, while last year’s withdrawal of government subsidy was offset by a good performance during the Olympics.
Advertisement
Hide AdAdvertisement
Hide AdMeanwhile, the bus division, which operates mainly in the Midlands, saw revenues increase 4%, boosted by the popularity of its new travelcard product.
Group chief executive Dean Finch said: “The group remains on course to deliver its 2012 targets, despite the significant challenges of prevailing economic conditions and government austerity measures.”
Shares in the group were 2% higher after the trading update was published as the group said it was on course to meet full-year expectations.
The company has secured £500 million in new contract revenues throughout the financial year.
Advertisement
Hide AdAdvertisement
Hide AdIts rail division - which lost the East Anglia franchise earlier this year - restated that c2c, its London, Tilbury and Southend rail operator, is the “best-performing” franchise in the country with a public performance measure rating of 97.4%.
But with the franchise-bidding process suspended in the wake of the West Coast mainline fiasco, there was little in the way of further updates.
In Spain, its Alsa business grew revenues by 3%, while North American underlying revenues increased by 3%.
The group will announce its full-year results on February 28.