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News Lead Story: Issue Issue 02 30 Jul 2009

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National Express slips into loss with East Coast cash provision

National Express Group has reported a half-year loss after setting aside more than £40m to cover the cost of quitting the East Coast rail franchise.

The group made a loss of £36.6m in the first six months of the year, substantially down on the profit of £35.9m a year earlier, and announced that it will not be paying an interim dividend. However, revenue grew 4.4% to reach £1.4bn and net debt has been reduced by over £200m to £977.5m.

The East Coast rail...

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