National Express Group PLC has published its Annual Report and Accounts 2011.
Highlights for the company in 2011 included;
- Record statutory profit before tax and amortisation of £180.2m (2010: £97.3m)
- Revenue growth of 5.3% to £2,238.0m (2010: £2,125.9m)
- Operating profit increased by 10.3% to £225.2m (2010: £204.2m)
- Revenue and profit growth in every division. Record profits in UK Coach business of £34.9m
- Industry leading operating margins in Spain, North America, UK Coach and Rail – North America achieved 10% margin; Group margin has almost doubled since 2009
- Passenger journeys rose by 5.4 million to 656.6m
- Strong balance sheet with long-term funding maturity. Gearing ratio further improved to 1.9x (2010: 2.1x)
- Return on capital (before tax) increased to 14.1% (2010: 13.2%)
- Basic EPS increased 14.4% to 27.0 pence (2010: 23.6p); 20.3 pence delivered from nonrail earnings (2010: 17.9p)
- Final dividend increased 8.3% to 6.5 pence
John Devaney, chairman of National Express said: “I am delighted to report in 2011 National Express has delivered another successful year of business turnaround and improvement. With our turnaround complete, we are implementing the next stage of our strategy to continue to improve margin in our existing businesses, to take advantage of the growth opportunities in our current markets, and to identify and develop exciting new market potential.”
