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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Pension vs property: which option provides the best income for your retirement?News With the cost of a comfortable retirement on the rise, future retirees need to weigh up which strategy offers the best returns. But is a pension a better bet than property?
-
The industry at the heart of global technologyThe semiconductor industry powers key trends such as artificial intelligence, says Rupert Hargreaves
