Full steam ahead for National Express
SHARES in National Express soared to a four-year high today as the trains, coaches and buses group signalled that profits will continue to steam ahead.
In a statement before the group's half-year end, National Express said trading remains good in its trains division, where profits last year increased by 70%.
The company last year added the lucrative One network out of Liverpool Street to Essex and East Anglia while in the continuing changes in train franchises it lost the loss-making ScotRail licence.
Other National Express franchises around London include Silverlink to the north of the capital and the Midland Mainline into St Pancras. It is also in the running to win further profitable licences. It hopes to land an enlarged Greater Western franchise out of Paddington plus the Thameslink cross-capital service.
The group said more-competitive pricing had produced sustained growth at its National Express coaches division. It is also attempting to cash in on the buses boom in London with the acquisition of the operations in the capital of Tellings Golden Miller.
Analysts expect pre-tax profits for the full year to grow by a third to around £80m. The shares rose 34p to 955p.
