National Express share price soars as rail strikes help boost annual profits March 2, 2023 The recent wave of train strikes helped National Express more than triple annual profits as passengers switched to buses and coaches to avoid rail disruption. Shares in National Express soared 13 per cent on Thursday as the group reported underlying pre-tax profits of £145.9m, up from £39.7m in 2021, with annual revenues surpassing pre-pandemic levels [...]
National Express wins £880m contract to run German rail lines January 23, 2023 National Express has been awarded a €1bn (£878m) to operate two regional train lines in the German state of North Rhine-Westphalia. The transport group’s German rail business has won €1bn contract to run the RE1 and RE11 Rhein-Ruhr-Express (RRX) lines until 2033. The Rhein-Ruhr-Express is a regional rail network in north west Germany, in the [...]
Gov stumps up £60m to cap bus fares at £2 with 130 operators signing up December 19, 2022 A new £60m government fare cap scheme will be rolled out next year ensuring bus tickets stay at £2. The initiative has the backing of 130 bus operators across the country including National Express and Stagecoach, who have agreed to charge no more than £2 for singles. The ‘Get Around’ scheme is designed to help [...]
National Express appoints interim as new CFO December 5, 2022 National Express Group has appointed its interim chief financial officer into the top finance role officially today. Former KPMG partner James Stamp will step into the role with immediate effect, having served as interim group CFO and been a member of the board since the beginning of November. The incoming CFO joined the company in [...]
National Express boss: UK economic environment ‘catalyst’ for shift to coach travel October 20, 2022 The UK’s economic woes have become a “catalyst” for the modal shift to coach and bus travel, according to National Express. Chief executive Ignacio Garat told City A.M. that coach and bus travel has “proven to be the most efficient” way to get around the country. “It is the most cost effective mode of transport [...]
Former M&S CFO Helen Weir named new chair of National Express September 8, 2022 Former M&S CFO Helen Weir has been named the new Independent Non-Executive Director and Chair Designate of National Express.
National Express ‘well-positioned’ for future as bus titan posts highest revenue increase in decade July 28, 2022 National Express said it was “well-positioned” for the future as the transport titan posted its biggest revenue increase in over a decade. “We’re well positioned to manage inflationary pressures and the potential impact of an economic downturn,” chief executive Ignacio Garat told analysts this morning. In the six months ended 30 June, National Express brought [...]
Analysts downgrade National Express following margin pressures June 8, 2022 Analysts at Peel Hunt have downgraded National Express’s ratings from Buy to Hold after the company said keeping prices affordable will slow its margin recovery. Peel Hunt have also cut National Express’s earnings per share forecasts by around 20 per cent. “This is clearly disappointing, but the medium-term targets remain in place and the group [...]
National Express: Profit recovery held back by desire for low UK fares as demand recovers June 7, 2022 Coach operator National Express said its endeavour to keep price affordable for UK users will limit the pace of its margin recovery. The company made the headlines when its offer to buy rival Stagecoach was snubbed in favour of German asset manager DWS Infrastructure. National Express reiterated an expectation for an average profit margin of [...]
Stagecoach merger creates superior value than DWS offer, says National Express March 17, 2022 A merger between rivals National Express and Stagecoach could unlock higher dividends for shareholders compared with DWS’s offer, National Express said today. According to National Express, a merger could see share value go up to 170p per Stagecoach share – a 66 per cent premium on the 105p offered last week by German asset manager [...]