LONDON (dpa-AFX) - National Express Group Plc (NEX.L), in its first-quarter 2012 interim management statement, announced good revenue growth, including Spain, North America school bus, UK Bus and UK Rail divisions.
Alsa continued to achieve good revenue growth, and in local currency, regular intercity coach revenue grew by 5% year-on-year, driven in particular by passenger volume growth on Madrid radial routes and in Northern Spain, reflecting competitive fares, particularly against rail, benefitting our customers during continued austerity. Revenue in the urban bus operation in Spain went up 4%, with Morocco up 9%, reflecting the start-up of an additional contract in Agadir. Total divisional revenue was 1% higher, with continuing weak non-transport revenues.
Also, School bus revenue was up 6% year-on-year in local currency, reflecting last year's new contracts and further charter growth; as well as Commercial revenue in UK Bus rising 4% year-on-year.
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© 2012 AFX News
