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Trading statements

National Express maintains strong momentum into 2017

10 May 2017 07:20

National Express Group said in a trading update for the period Jan. 1 to April 30 that it has maintained its strong momentum from 2016, and is on target to deliver its FY profit expectation.

There was an overall revenue increase from continuing operations of 5.4% on a constant currency basis, up 15.8% on a reported basis, benefiting from organic growth and a number of bolt-on acquisitions made last year, together with significant foreign exchange tailwinds.

"The group remains on target to deliver its profit expectation and free cash flow and leverage targets for the year," said National Express.

CEO Dean Finch was pleased National Express had maintained its strong momentum into 2017, with a good revenue performance driven by both organic growth and the benefit of our recent acquisitions.

"Our diversified portfolio is providing broad-based growth that is also providing additional opportunities for further expansion," he said.

"We will continue to focus on operational excellence to drive our growth by both delivering high standard services for our customers and generating cash and returns that we can invest in future expansion.

"These opportunities will continue to be sought in a disciplined manner and we will only pursue them if they meet our strict financial criteria. We remain on track to meet our full year profit and cash flow expectations."

Story provided by StockMarketWire.com

Related Company: NEX

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