National Express believes Stagecoach offer was ‘compelling’ as results improve March 10, 2022 Mobility giant National Express said its £445m takeover proposal made to Stagecoach was ‘compelling’ after Stagecoach snubbed it in favour of asset manager DWS. “We continue to believe that we made a compelling offer for Stagecoach, providing both sets of shareholders with the opportunity to share in the significant value created from both the material [...]
Zenobe bags National Express contract for 130 electric buses February 15, 2022 Battery provider Zenobe has bagged a contract with National Express to supply 130 electric buses as well as charging infrastructure and replacement batteries. Jointly funded by National Express and Zenobe, the project will also tap into Department for Transport’s (DfT) funding. The fleet, built by NFI group, will operate in Coventry with Zenobe taking charge [...]
National Express and Stagecoach announce merger, creating £1.9bn company December 14, 2021 Coach giant National Express and rival Stagecoach have announced they will merge by late 2022, reaching an agreement after months of talks. Following the announcement, shares for both Stagecoach and National Express surged, going up 12 and 2.98 per cent respectively. The new company – which will have a fleet of around 40,000 vehicles and [...]
Stagecoach profits rocket as passenger journeys boom December 8, 2021 Stagecoach’s profits have gone up 104.3 per cent in the half year ended 30 October, rocketing to £32.9m compared with £16.1m registered in the same period last year. Earnings per share went up from 0.1p to 2.7p in the same timeframe. The transport giant’s revenues have also hiked from £454.6m to £579.4 as a result [...]
National Express buys time as Stagecoach takeover is delayed October 18, 2021 Stagecoach’s panel on takeovers and mergers has consented to an extension to the date by which National Express is required to announce its firm intention to buy the rival. National Express will have by 5pm on 16 November if it wants to go ahead and buy Stagecoach or give up on the deal altogether. The [...]
National Express exploring takeover of rival Stagecoach September 21, 2021 National Express has confirmed reports that it is looking into a possible takeover of its fellow transport heavyweight Stagecoach. The British bus operator has started discussions around buying out its Scottish rival, the UK’s largest bus operator. Stagecoach shares rose by almost 90 per cent over the last year, reaching a market value of around [...]
National Express back in black as savings take effect July 29, 2021 Transport operator National Express said that cost reductions had helped it return to the black in the first half of 2021 despite continuing Covid-19 restrictions. Although revenue was slightly down on last year, the FTSE 250 firm said that underlying operating profit came in at £22.9m for the period, up from a £30.6m loss in [...]
Cost cutting drives National Express profit growth in first quarter May 12, 2021 Cost cutting helped coach operator National Express secure profit growth in the first quarter despite fewer journeys being taken during the pandemic. The travel company said performance is improving despite ongoing Covid restrictions, with April revenue up 50 per cent compared to last year, at the height of the first lockdown. Revenue is 16 per [...]
National Express careers to £380m loss as pandemic forces emergency stop March 18, 2021 Coach firm National Express this morning reported a £381.4m operating loss for 2020 as the pandemic drove its vehicles off the road for months at a time. The FTSE 250 company saw passenger numbers plunge 80 per cent when last year’s initial lockdowns struck, sending profit and revenue tumbling. For the full year, it swung [...]
National Express recovery speeding up before second lockdown November 12, 2020 Coach operator National Express said that its revenue and earnings had continued to rise in the build up to the second national lockdown. In a trading update, the FTSE 250 business said that it had secured around 70 per cent of last year’s revenue in October, up from 60 per cent in August. It added [...]