Business
Half Year Results for six months to 30 June 2014
Half Year Results for six months to 30 June 2014.
About this update from Mobico Group Plc
[{"type":"text","content":"\n \nRNS Number : 6705N National Express Group PLC 30 July 2014 \n \n\nNational Express Group plc\n \n30 July 2014\n \nHalf Year Results for the six months ended 30 June 2014\n \nNational Express Group PLC (\"National Express\" or \"the Group\") is a leading international public transport operator, with bus, coach and rail services in the UK, Continental Europe, North Africa and North America.\n \nHighlights\n \n· Positive progress in the first half of 2014.\n· Excellent cash generation: £80 million of free cash flow in the first half of the year, with a full year target of £150 million. Net debt reduced by £80 million over the last 12 months.\n· Success in winning new contracts worth £5 billion and sustaining market-leading contract retention rates. \n· Underlying growth in both revenue and passenger numbers, in the UK, North America and Morocco.\n· Dividend increased 3% to 3.35 pence per share (based on 2x covered by non-rail earnings in the full year).\n \nConsistent delivery against our strategy\n \n· Important contract wins across the Group, worth £5 billion in total:\no Firmly re-established with a long term future in UK rail: success in retaining the Essex Thameside ('c2c') franchise secures our presence until 2029.\no Largest ever US School Bus conversion contract.\no Retaining largest US transit contract.\no Selected preferred bidder for largest urban/regional bus contract in Spain.\no Continuing to deliver industry-leading retention rate in US School Bus.\n· New growth markets: selected as preferred bidder for urban bus services in Bahrain, opening up a significant new potential growth opportunity in the Middle East.\n \nFinancial summary\n\n\n\n\n \n\n\nH1 2014\n£m\n\n\nH1 2013\n£m\n\n\n\n\nRevenue\n\n\n939.5\n\n\n956.7\n\n\n\n\nNormalised operating profit\n\n\n89.5\n\n\n97.2\n\n\n\n\nNormalised profit before tax\n\n\n65.5\n\n\n71.8\n\n\n\n\nStatutory profit for the period\n\n\n20.6\n\n\n28.7\n\n\n\n\nNormalised basic EPS\nDividend\nNet debt\n\n\n9.9p\n3.35p\n729.0\n\n\n10.8p\n3.25p\n809.4\n\n\n\n\n \n· The previously disclosed one-off impacts o...