LONDON (dpa-AFX) - Mass transit provider National Express Group PLC (NEX.L) Thursday said it is reinstating its full-year guidance for normalised EBITDA , following more clarity on school start-up in North America and the latest government lockdown policies and related support.
The Group now expects normalised EBITDA to be in the range of 170 million- 190 million pounds for the full year 2020. The Group said it witnessed improving revenue trend, with about 70% of last year's revenue secured in October compared to around 60% in August.
However, the Group noted that the pace of its recovery has been slower, owing to the impact of the second wave of infections and the associated lockdowns.
National Express said it expects to close the year with about 1.5 billion pounds in cash and undrawn committed facilities.
Copyright RTT News/dpa-AFX