27 Jul '12, 10am

Bus and Coach News: Profits drop at NatEx coaches: The operating margin at the UK Coach oper... #bus #coach #diesel

The operating margin at the UK Coach operation of National Express almost halved in the first six months of 2012, dropping to 5,3 per cent from 9,6 per cent in the same period last year as the operation faced what NatEx describes as “the significant challenge of the removal of the government-funded senior citizen concession scheme in November 2011”. Turnover dropped only a little, from £122.3million to £120.0million, but operating profit plummeted from £11.7million to £6.3million. Revenue at UK Bus was up slightly, at £133.5million (2011: £131.6million) and operating profit was up too, at £17.2million (2011: £15.2million). Here the operating margin was 12.9 per cent (2011: 11.6 per cent). Dean Finch, National Express Group chief executive, says: "The first half of 2012 has seen a resilient underlying performance across the group, considering the headwinds we have faced. Th...

Full article: http://www.busandcoach.com/newspage.aspx?id=6986&category...

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