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    NEX   GB0006215205

NATIONAL EXPRESS GROUP PLC

(NEX)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 10/28 08:09:15 am
234.1 GBX   +1.96%
10/27FORM 8.3 - THE VANGUARD GROUP, INC. : Stagecoach Group plc
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10/27FORM 8.3 - THE VANGUARD GROUP, INC. : National Express Group plc
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10/27HSBC Bank Plc - Form 8.5 (EPT/RI) - National Express Group plc
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National Express : back in black as savings take effect

07/29/2021 | 02:51am EDT

Transport operator National Express said that cost reductions had helped it return to the black in the first half of 2021 despite continuing Covid-19 restrictions.

Although revenue was slightly down on last year, the FTSE 250 firm said that underlying operating profit came in at £22.9m for the period, up from a £30.6m loss in the same half in 2020.

The firm said that this was largely due to the £100m in cost savings set out in last year’s full year results.

That came after a year in which National Express saw the imposition of coronavirus restrictions batter demand for public transport.

Although the bus company said that its focus was on returning to pre-Covid levels of operation, it added that it saw “significant opportunities” across all its markets.

It cited the new £3bn National Bus Strategy in the UK, as well as Joe Biden’s $1.2bn infrastructure plan and €750m earmarked for Spain under the EU’s national recovery fund, as potential areas for further growth.

Chief executive Ignacio Garat said: “It is pleasing to see the continued improving performance trajectory across the group over the first half of the year, despite ongoing Covid restrictions and I’m delighted to report a return to positive Underlying Operating Profit and free cash flow in the period.

“We are completing work on the business review and it is clear that we have significant profitable growth opportunities ahead. I look forward to communicating our findings and priorities in the autumn.”

Before the Open: Get the jump on the markets with our early morning newsletter

The post National Express back in black as savings take effect appeared first on CityAM.

© City AM, source Newspaper

All news about NATIONAL EXPRESS GROUP PLC
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10/27CORRECTION : Form 8.3 - National Express Group PLC
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Analyst Recommendations on NATIONAL EXPRESS GROUP PLC
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Financials
Sales 2021 2 279 M 3 132 M 3 132 M
Net income 2021 -23,2 M -31,9 M -31,9 M
Net Debt 2021 1 234 M 1 695 M 1 695 M
P/E ratio 2021 -117x
Yield 2021 -
Capitalization 1 408 M 1 933 M 1 935 M
EV / Sales 2021 1,16x
EV / Sales 2022 0,88x
Nbr of Employees 47 971
Free-Float 87,2%
Chart NATIONAL EXPRESS GROUP PLC
Duration : Period :
National Express Group PLC Technical Analysis Chart | NEX | GB0006215205 | MarketScreener
Technical analysis trends NATIONAL EXPRESS GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Last Close Price 229,60 GBX
Average target price 337,86 GBX
Spread / Average Target 47,2%
EPS Revisions
Managers and Directors
Jose Ignacio Garat Group Chief Executive Officer & Director
Chris Davies Group Chief Financial Officer & Director
John A. Armitt Chairman
Matthew Crummack Senior Independent Non-Executive Director
Ashley Steel Independent Non-Executive Director
Sector and Competitors