national express

National Express enjoyed growth across all markets in the UK, US, Germany and Spain for the first quarter of 2019.

The multinational transport operator said that group revenue increased by 8.3% on a constant currency basis, and 11.3% on a reported basis.

National Express said that ALSA, its Spanish subsidiary, proved particularly strong, with revenue increasing up 11.8% in constant currency, and 7.8% on a like-for-like basis.

Alongside a strong performance in Spain, Morocco and Switzerland also grew across the period.

Easter trading period also proved encouraging, with revenue increasing 9.1% and passengers up by 5.5%, year-on-year.

Meanwhile in North America revenue jumped 8.3% in part due to favourable currency fluctuations and in spite of poor weather conditions and school closures. Like-for-like revenue was up 3.2%.

In the UK, revenue also increased 4.4%. This was driven by a strong performance at its UK coach business, with revenue up 7%.

Its core coach business enjoyed growth of 5.3% in the period, boosted by a promising Easter period.

National Express also confirmed that it has renewed its largest Spanish urban bus franchise, with a 10 year contract in Bilbao.

It also retained its airside and car park shuttle services at Stansted Airport for a minimum of 5 years.

Dean Finch, the group’s Chief Executive, commented on the latest figures:

“I am pleased all of our divisions have started 2019 in a positive manner and we have seen strong trading over the important Easter period. Organic revenue growth has been secured across all of our increasingly diversified international portfolio. As our acquisition of a majority stake in WeDriveU demonstrates, this diversified international portfolio also continues to present new opportunities for further expansion, which we pursue when they meet our strict financial criteria.

 “We will continue to focus on operational excellence to drive shareholder value, by both delivering high quality services for our customers and generating cash to invest in technological modernisation and future expansion. We remain on track to meet our full year profit and cash flow expectations.”

Shares in National Express (LON:NEX) are currently down +0.87% as of 12:59PM (GMT).