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%.
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
-
Defeat into victory: the key to Simon Wolfson's successOpinion Next CEO Simon Wolfson claims he owes his success to a book on military strategy in World War II. What lessons does it hold, and how did he apply them to Next?
-
Aircraft leasing companies can lift investors' portfoliosThe aircraft leasing business is a safer way to cash in on air travel and its booming demand. David Prosser explains how it works and how to access it
