National Express Group PLC Continued positive trading and new acquisitions (1833Y)
December 04 2017 - 2:00AM
UK Regulatory
TIDMNEX
RNS Number : 1833Y
National Express Group PLC
04 December 2017
4 December 2017
Continued positive trading and new acquisitions sustain year end
momentum
National Express Group PLC is pleased to announce that it has
completed two small acquisitions in November; one each in the US
and Spain. Both acquisitions will enable further expansion in
target markets. They are:
-- A school bus and coach business with 204 vehicles, based in
Cincinnati, Ohio. This acquisition strengthens our presence in
Ohio, enabling us to grow our business further, as well as improve
our service offering to our customers in Cincinnati.
-- A Madrid bus operator with 73 vehicles, that provides staff
transfers for a large local airline and national bank headquarters;
an urban transport contract in Azuqueca, Guadalajara; and, school
bus services in Madrid.
Both businesses are expected to deliver returns in line with our
guidance of 15-20%.
We continued to see a good trading performance across all of our
divisions during October and November, in line with the trends set
out in our most recent Trading Update.
We are encouraged by strong early Christmas trading in both our
UK and Spanish coach businesses, with advanced sales higher than
last year.
Overall, we remain on course to deliver our profit, free cash
flow and leverage targets for the full year.
Enquiries
National Express Group PLC
Chris Davies, Group Finance Director 0121 460 8655
Anthony Vigor, Director of Policy
and External Affairs 07767 425822
Louise Richardson, Head of Investor
Relations 07827 807766
Maitland
Neil Bennett/James McFarlane 0207 379 5151
Notes
Legal Entity Identifier: 213800A8IQEMY8PA5X34.
Classification: 2.1 (with reference to DTR6 Annex 1R).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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