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Lead Story: Issue 602 3 Aug 2012

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National Express profits drop after loss of East Anglia rail franchise

Transport operator National Express saw its revenue fall by 17% in the six months to 30 June, down from £1.12bn in the first half of 2011 to £934m in the corresponding period of 2012. Group operating profit also fell, by 10%, dropping from £118m in 2011 to £105m in 2012. Most of this decline was due to the end of the company’s East Anglia rail franchise in February; its rail division revenue fell by 63%, whereas that of its non-rail division actually rose by 3%....

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