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Coach brings National Express cheer but bus & rail profits fall

10 March 2014
National Express: bus margin down
National Express: bus margin down

 

 

National Express Group results for the year ended 30 December 2013 show steady revenue growth but a fall in profitability.

Group revenue of £1.89bn (2012: £1.83bn) was 3% up, but net debt fell to £746.1m (2012: £828.2m) and is on target to reduce to twice EBITDA (earnings before tax, interest, depreciation & amortisation) by the 2014 year end.

Group normalised profit before tax was 12.4% down at £143.7m (2012: £164.1m). If intangible amortisation...

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