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National Express on track to meet profit and revenue targets in 2011

National Express on track to meet profit and revenue targets in 2011

Transportation group National Express (LON:NEX) told investors that trading remains strong and it is firmly on track to post revenue and profit growth at all five of its divisions.

As a result, National Express is set to meet its profit targets for the full year.

In today’s trading update, National Express highlighted the performance of its non-rail business, where it expects to see significant earnings growth in 2012.

For the full year 2011, revenue growth in the group’s core National Express coach network is expected to exceed 5 percent with airport, long-haul and London commuter services performing particularly well.

At the Rail division, National Express expects to post revenue growth of 6 percent, noting that passenger volume growth remains strong, particularly at its c2c train business.

National Express is finishing 2011 in excellent shape. We are growing revenue and profit in all five of our divisions,” said chief executive of National Express Dean Finch.

“As recent passenger growth has shown, our customers value our competitive pricing during this period of economic uncertainty.”

"This strong foundation, coupled with a clear cost focus and the operational flexibility of our business, leaves us well positioned to pursue new opportunities to deliver value to shareholders in the future."

National Express, a constituent of the FTSE 250 index, traded at 216 pence this morning, unchanged from Monday’s closing price. The group currently has a market cap of £1.1 billion.

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