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National Express Group revenue up 1.7%, boosted by America bus unit

StockMarketWire.com

Bus and train service operator National Express Group said revenue grew by 6.2% in the first fourth months of the year on a constant currency basis, boosted by a strong performance at its North American bus business.

On a reported basis, revenue grew by 1.7%.

Revenue from the North American operation grew 9.0% on a constant currency basis, which the company said reflected the benefit of recent acquisitions and 'robust' underlying trading, despite the impact of school closures after a period of severe snow.

A 'sizeable proportion' of the lost schools days were expected to be made up within the first half of the year, National Express said.

The UK bus and coach businesses grew sales by 0.7% and 2.3%, respectively, while revenue at the German rail business fell by 0.7%.

'We remain on track to meet our full year profit and cash flow expectations,' chief executive Dean Finch said.







Story provided by StockMarketWire.com