National Express sees revenues near £2bn

National Express sees revenues near £2bn

Birmingham-headquartered National Express is celebrating another strong year after revenues at the group edged towards the £2bn mark.

In the year ending 31 December, the group saw revenue climb to £1.92bn from £1.87bn, while pre-tax profits almost doubled to £124.4m from £66.5m.

Dean Finch, chief executive, said: "This strong set of results demonstrates that our focus on operational excellence is generating excellent returns for our shareholders and customers."

During the year, National Express moved into two new markets after securing rail contracts in Bahrain and Germany.

It also revealed it is working on three further bids in Germany, potentially worth £2.37bn, and is developing a "strong" case for the Manchester Metrolink system, which is due for submission in May.

Finch added: "I am pleased that every division has increased revenue, helping to drive overall group profit growth and another strong free cash flow performance.

“Our commitment to our customers and safety has also been recognised in a record year of industry awards.

"We continue to draw on our international reputation for operational excellence to expand new market opportunities.

“We have an active pipeline of bids within Europe and the Middle East that will continue to deliver new growth opportunities."

As a result of the company's performance, the board has also recommended a 10% dividend increase to 11.3p per share.

The company said the results have left the group in a "good position" for 2016.