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National Express RNS Release

Continued positive trading and new acquisitions


RNS Number : 1833Y
National Express Group PLC
04 December 2017
 

4 December 2017

 

Continued positive trading and new acquisitions sustain year end momentum

 

National Express Group PLC is pleased to announce that it has completed two small acquisitions in November; one each in the US and Spain. Both acquisitions will enable further expansion in target markets. They are:

 

·    A school bus and coach business with 204 vehicles, based in Cincinnati, Ohio. This acquisition strengthens our presence in Ohio, enabling us to grow our business further, as well as improve our service offering to our customers in Cincinnati.

·    A Madrid bus operator with 73 vehicles, that provides staff transfers for a large local airline and national bank headquarters; an urban transport contract in Azuqueca, Guadalajara; and, school bus services in Madrid.

 

Both businesses are expected to deliver returns in line with our guidance of 15-20%.

 

We continued to see a good trading performance across all of our divisions during October and November, in line with the trends set out in our most recent Trading Update.

 

We are encouraged by strong early Christmas trading in both our UK and Spanish coach businesses, with advanced sales higher than last year.

 

Overall, we remain on course to deliver our profit, free cash flow and leverage targets for the full year.

 

Enquiries

 

National Express Group PLC

Chris Davies, Group Finance Director

0121 460 8655

Anthony Vigor, Director of Policy and External Affairs

07767 425822

Louise Richardson, Head of Investor Relations

07827 807766

 

Maitland

Neil Bennett/James McFarlane

0207 379 5151

 

Notes

Legal Entity Identifier: 213800A8IQEMY8PA5X34.

 

Classification: 2.1 (with reference to DTR6 Annex 1R).

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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