National Express on track for full year

Bus and train group National Express said it is on target to deliver full year results in line with company expectations despite challenging conditions.

In an update on trading ahead of its year end on December 31st 2012 the group said UK Bus revenue increased 4% in the year to date while core revenue from non-concession passengers increased 2%.

In rail it said c2c has driven good revenue growth and has also recently pre-qualified for a fifth rail bid in Germany.

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Total revenue growth at Alsa in the year to date is 3% while North American revenue grew by 3%.

Chief Executive Dean Finch commented: "The group remains on course to deliver its 2012 targets, despite the significant challenges of prevailing economic conditions and government austerity measures."

"Recent bid wins from an expanding pipeline of opportunities, combined with strong cash generation, underpin our platform for growth in the medium term."

National Express said its financial position remains robust.

"With the group's recent investment programme complete and a focus on capital-light development opportunities, we are driving strong cash generation and free cash flow across our businesses," the group said.

CJ