LONDON (dpa-AFX) - Public transport company National Express Group Plc. (NEX.L) reported Thursday that its fiscal 2020 loss before tax was 444.7 million pounds from last year's profit of 187.0 million pounds. Loss per share was 57.9 pence, compared to prior year's profit of 27.6 pence.
Group Underlying loss before tax was 106.1 million pounds, compared to underlying profit of 240 million pounds a year ago. Underlying basic loss per share were 14.6 pence, compared to profit of 34.5 pence last year.
Group EBITDA fell 63.4 percent from last year to 186.6 million pounds.
Group Revenue declined 28.7 percent to 1.96 billion pounds from 2.74 billion pounds last year, driven by the extreme travel restrictions in response to the pandemic.
The company noted that the fourth quarter of 2020 was the strongest of the year.
The momentum is continuing into 2021 with slowly improving revenue trends and positive EBITDA in January and February.
Looking ahead, the company projects performance in the first half of 2021 to be similar to that achieved in the second half of 2020.
The company expects that by December 2021 Group revenue recovers to levels similar to December 2019.
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