National Express to drive expansion in North America, as annual profits grow
26th Feb 2015 08:24
Strong performance in its UK bus and coach operations drove annual profits at public transport group National Express up 7%. In the year ended 31 December, pre-tax profit rose to £145.5m on a constant currency basis, slightly ahead of the consensus forecast of £142.2m, boosted by solid revenue growt
Read moreNational Express named as preferred bidder for €1.4bn German contract
3rd Feb 2015 07:43
National Express has been named the "preferred bidder" for all Nuremberg S-Bahn services by the Bavarian passenger transport authority (BEG). The win, following a competitive tender process, should involve two twelve-year contracts for commuter rail services. National Express would operate the enti
Read moreNational Express announces new finance director
29th Jan 2015 13:49
National Express announced the appointment of its new finance director. Matthew Ashley joined the company in 2010 as group financial controller after leaving Deloitte, where he was a transport and infrastructure director. He has been working as acting group finance director since October 2014, whe
Read moreFriday tips round-up: National Express, Aviva
31st Oct 2014 11:39
National Express seems to be on a firm footing, with a sound base from which to expand into new territories. Nevertheless, the company's chief executive, Mr. Finch, has experienced some setbacks of late. His outfit wasn't picked for Crossrail and he decided not to compete on TransPennine or Northern
Read moreFriday broker round-up UPDATE
31st Oct 2014 09:36
Afren: Deutsche Bank lowers target price from 110p to 105p, leaving its hold recommendation unaltered. Aviva: Barclays ups target price from 397p to 420p and reiterates its equal-weight rating. Barclays: Deutsche Bank lowers target price from 300p to 295p and leaves its buy recommendation. Country
Read moreFTSE 250 movers: Oil stocks lead downside
30th Oct 2014 15:43
Oil stocks led the downside, thanks to a combination of declining Brent crude prices and comments out of analysts at Deutsche Bank. Afren's target price was cut from 130p to 110p, Premier Oil's was reduced by 85p to 335p, while Enquest fell in sympathy. Cairn was also hit by the bank's analysts, wh
Read moreThursday broker round-up UPDATE
30th Oct 2014 08:36
Afren: Deutsche Bank cuts target price from 130p to 110p retaining its hold recommendation. Antofagasta: JP Morgan lowers target price from 760p to 755p and reiterates a neutral rating. Investec lowers target price from 717p to 704p and keeps a hold recommendation. Balfour Beatty: Jefferies cuts ta
Read moreNational Express on track for full-year as profits recover in Q3
30th Oct 2014 08:06
National Express said it was on track to meet its profit expectations for the full-year after a 15% increase in third quarter pre-tax profit reversed the decline in growth from the first half of the year. In the UK revenue grew on the back of higher passenger numbers in UK bus, UK coach and UK rail
Read moreNational Express retains Spanish commuter coach contract
16th Oct 2014 10:39
Alsa, the Spanish arm of transport group National Express, has secured its largest contract renewal so far. Alsa was awarded two contracts tendered by the regional government of Bizkaia for regional commuter coach services across the Bilbao metropolitan area. The 10-year contracts, which have an op
Read moreLondon pre-open: FTSE set to tumble at opening bell
10th Oct 2014 07:40
London-listed stocks are set for a sharp slide on Friday morning, with City sources predicting the FTSE 100 will open around 75 points lower than yesterday's close of 6,431.85. The decline comes after US markets tumbled the previous evening, as companies began reporting quarterly earnings and invest
Read moreMonday broker round-up UPDATE
11th Aug 2014 10:22
Avacta Group: Numis lowers target price from 2p to 1.6p retaining its buy recommendation. Braemer Shipping Services: Westhouse Securities reinstates with a target price of 545p and a buy recommendation. British Land: Liberum Capital upgrades to buy with a target price of 763p. Catlin Group: Deuts
Read moreWednesday broker round-up UPDATE
30th Jul 2014 09:50
Antofagasta: Westhouse Securities downgrades from add to neutral with a target price of 885p. Investec places its target price (prev.: 690p) under review, while keeping its sell recommendation. Aureus Mining: FinnCap lowers target price from 66p to 62p maintaining a buy recommendation. British Ame
Read moreUS weather and strong pound hit National Express H1 profits
30th Jul 2014 08:22
Transport group National Express took a hit from extreme US weather, Spanish strikes and the strong pound, but highlighted £5bn of contract wins and potential expansion in Portugal and Spain. National Express said "normalised" operating profit in the six months to June 30th fell to £89.5m from £97.
Read moreHong Kong's MTR Corp beats UK rivals to £1.4bn Crossrail deal
18th Jul 2014 12:55
Hong Kong transport group MTR Corporation has won a £1.4bn deal to run London's new Crossrail rail link, beating off competition from rivals Go-Ahead, National Express and Arriva. MTR, which already runs the London Overground network with Arriva, will run Crossrail for up to 10 years, Transport for
Read moreNational Express and government seal Essex Thameside franchise deal
16th Jul 2014 08:40
Bus and train group National Express has formally signed a deal with the UK government to run the Essex Thameside rail franchise for another 15 years, the Department for Transport (DfT) said on Wednesday. Ministers said the deal would allow National Express to build on the "impressive" performance
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