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National Express Reports 14.5% Rise In Qtrly Revenue
National Express Says Moroccan Unit Wins Bus Contract In Casablanca
National Express Buys 60 Pct Stake In WeDriveU For 84.3 Mln Stg
National Express Group PLC is an international transport company. The Company's segments include UK Bus, UK Coach, German Rail, North America (operates school bus and transit services), Spain and Morocco (operates bus and coach services), and Central functions. The UK Bus segment's services are operated from nine garages across the West Midlands. It also operates the Midland Metro light rail service between Birmingham and Wolverhampton. The UK Coach segment operates scheduled coach services in the United Kingdom. The German Rail segment operates the Rhine-Munster Express and the Rhine-Wupper-Bahn contracted rail services in Germany. The North America segment offers student transportation and transit services. Apart from the bus and coach services, the Spain and Morocco segment also operates service areas and other transport-related businesses, such as fuel distribution. The Company operates in the United Kingdom, Continental Europe, North Africa, North America and the Middle East.
National Express House
Mill Lane, Digbeth
John A. Armitt
Non-Executive Chairman of the Board
Group Chief Executive, Executive Director
Non-Executive Deputy Chairman of the Board
Group Finance Director, Executive Director
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British transport firm National Express Group Plc <NEX.L> said on Wednesday it won a 15-year bus contract in Casablanca through its unit ALSA, which is expected to fetch more than 1 billion euros ($1.11 billion) in revenue over its term.
On June 30, British bank NatWest <RBS.L> sent out an arcane-sounding press release - bus operator National Express <NEX.L> had become the first company to take out a loan based on Sonia, a replacement for scandal-hit interest rate benchmark Libor.
British transport company National Express said its Spanish and Moroccan business has won a 1 billion euro ($1.17 billion) contract in Morocco to run bus services on 61 routes for 15 years.
* ANTICIPATED REDUCTION IN GROUP'S EFFECTIVE TAX RATE (ETR) FROM 1ST JANUARY 2018 DUE TO IMPACT OF US TAX CUTS AND JOBS ACT
Transport group National Express lifted its guidance for free cash flow on Thursday after lower fuel costs and strong international demand helped it to beat profit expectations, sending its shares higher.
* Completion of acquisition was triggered after department for transport granted final consent to proceed
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