National Express 'makes progress'

Transport group National Express expects to show "good progress" in boosting half-year profits on Thursday thanks to a major cost-cutting drive under former Tube Lines boss Dean Finch.

Mr Finch is getting to grips with the tough task of reviving the business following a disastrous year for its rail arm, which returned its loss-making East Coast franchise back to the Government in November.

At this stage last year, the East Coast deal sent the firm plunging into the red with a 48.1m pre-tax loss. But a cost crackdown by the new chief executive is helping shore up results.