National Express said that because of Deutsche Bahn’s objection, the introduction of new trains that were the basis of its successful bid to run the Nuremberg S-Bahn would be substantially delayed and have led to prohibitive additional cost.
The train operator added it intends to bid for more German contracts and a first contribution from there helped third quarter operating profit rise by 9% with a particularly strong performance overseas, it said.
Year–to-date group revenues are up 17% on an actual currency basis and passenger numbers rose by 6%.
Rail revenue grew by 43% year to date and included its new Ruhr-based German rail operation. US revenues rose by 16% while UK bus and coach operation were flat at 2% and 1.7% respectively.
Group profit in the year so far was up by 12% on a reported basis and by 5% at constant currencies.
Dean Finch, chief executive, said: "With two thirds of our earnings generated outside of the UK this geographic diversity, combined with a focus on operational excellence and the deployment of technology, continues to deliver good growth, a strong cash flow and opens new market opportunities.
“The Group is on course to at least deliver its targets for profit, cash flow and gearing for the year.”