National Express : Continued positive trading and new acquisitions sustain year end momentum
December 04, 2017 at 04:43 am EST
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04 December 2017
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
Issued 04 December 2017 09:24
NX - National Express Group plc published this content on 04 December 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 December 2017 09:41:07 UTC.
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Mobico Group PLC is an international transport operator. The Company provides mobility solutions to cities, businesses, education, healthcare and customers. It is internationally diversified with a portfolio of contracts and customer brands. The Company operates transportation services in 11 countries, the United Kingdom, the United States, Canada, Spain, Morocco, Switzerland, France, Germany, Portugal, Ireland and Bahrain, with some international coach services to other European countries. Its subsidiary, ALSA, operates long distance, regional and urban bus and coach services across Spain, and in Morocco, Portugal, Switzerland and France. ALSA also offers mobility solutions to meet business leisure and healthcare needs. Its business in North America has three areas of activity, student transportation, transit and shuttle services. It operates in 34 states in the United States and three Canadian provinces. The Company operates rail services on seven routes in North Rhine-Westphalia.