National Express stays on track

TRANSPORT group National Express said it was on track to meet its full-year expectations after positive fourth quarter trading, led by its UK coach business.

The bus and train operator said core UK express coach revenue was expected to increase by nine per cent in the fourth quarter and six per cent for the full year, driven by higher passenger volumes.

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The group, which is currently bidding on contracts worth £10bn in revenue, including three rail tenders in the UK, said it had also seen steady revenue growth at its UK bus, rail and North American businesses. Like-for-like commercial revenue in its UK bus division is expected to be three per cent higher overall in 2013, the firm said, with total revenue in North America anticipated to rise 10 per cent, and total revenue in Spain expected to grow.

The group said it was on track to meet its 2013 expectations for revenue, profit and cash generation. The firm is expected to post a pre-tax profit of