Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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National Express (NEX)

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Friday 24 October, 2008

National Express

Interim Management Statement

RNS Number : 5956G
National Express Group PLC
24 October 2008
 



NATIONAL EXPRESS - INTERIM MANAGEMENT STATEMENT 

24 October 2008 


 

National Express Group plc is today issuing its third quarter Interim Management Statement. 


Trading update - expectations for the full year remain unchanged 


We remain on track for strong year on year earnings growth and management's expectations for the full year remain unchanged. Public transport offers a quality, sustainable and value for money travel option for millions of people. We believe this will become increasingly important in the coming months and years. The travel sector is not immune to the impact of a tougher consumer climate and we will continue to examine our operations to ensure we have minimised costs and maximised efficiencies. 


UK - Trains 


We have achieved year to date like for like revenue growth of 11% on National Express East Coast and 6% on National Express East Anglia resulting in 9% across our whole rail portfolio.


Operational performance on our rail franchises has continued to be excellent, a prerequisite for strong financial performance. Our East Coast franchise achieved 91.2% punctuality in the 4 weeks to 12 October, the highest average achieved in a single month since privatisation in 1996 and positions us well to deliver our franchise commitment. We are particularly pleased with the success of our marketing campaigns across all our franchises which have not only generated substantial revenue but have also brought new customers with the prospect of strong repeat business. 


UK - Bus and Coach


Our bus operations continue to trade well with year to date like for like revenue growth of 7%. We believe this is due to a combination of excellent service, a strong partnership with Centro in the West Midlands and the value for money bus represents compared to the cost of the private car. 


With coach, whilst services to Stansted airport continue to show the slower growth previously noted, our other coach routes have shown strong growth. Year to date, like for like coach revenue is up 5%. 


Dot2Dot


We have taken the decision to exit our Dot2Dot start up operation. As we have highlighted previously, revenue growth has not been as strong as anticipated and we believe that our resources are better focused on our core business at this time.


Spain


In Spain, we have continued the growth we saw in the first half of the year despite the economy in Spain coming under considerable pressure. On some long distance routes, growth has been encouraging and we believe consumers are looking to secure value from public transport in Spain just as much as they are in the UK. Overall, like for like revenue growth remains on track at 5%. 


Our wider strategy to grow revenue is beginning to bear fruit. In particular, our push towards greater use of the internet is proceeding well and our sales and marketing campaigns during the summer have been successful.


North America


Our North American business has a strongly defensive revenue stream and in the recent bidding season we retained more than 95% of our existing contracts.


Our Business Transformation project is progressing well and we are now implementing our pilot project which accounts for 10% of our overall business. This has been achieved alongside yet another excellent start up to the new School Year. We believe that the significant cost savings possible from Business Transformation will help us unlock a meaningful proportion of the 70% of school buses in North America still operated by School districts. 


Financial Position 


National Express Group generates strong underlying cashflow. The Group's balance sheet remains robust and we continue to expect net borrowing at the year end to be in line with previous guidance.


Commenting Richard Bowker, Group Chief Executive, said:


'Year to date, the growth across all our businesses has been strong and we are on track to hit our targets for 2008. The travel industry is not immune to an economic slowdown and we are seeing evidence of consumers becoming increasingly focused on securing the best value for money they can. We remain confident that public transport and the products and services delivered by National Express Group are well placed to deliver the value which consumers are looking for.'



For further information, please contact:    



Richard Bowker, Group Chief Executive 


Gareth Wright, Acting Group Finance Director

+44 (0)20 7506 4324

Nicole Lander, Communications Director    

+44 (0)121 460 8401

 

 


Maitland 

 


Neil Bennett/Suzanne Bartch/Brian Hudspith

+44 (0)20 7379 5151



There will be a conference call for research analysts at 08:00am today, 24 October 2008. For details please contact Rebecca Mitchell at Maitland on +44 20 7379 5151.

 

 

Notes


1.    The revenue growth figures disclosed above are the like for like growth for revenue achieved when comparing the 9 months 30th September 2008 to the 9 months ended 30th September 2007, except for UK trains where the growth compares the 10 rail periods ending 11th October 2008 to the 10 rail periods ending 13th October 2007. For acquisitions and train franchises, the like for like adjustment restates the 2007 result to assume ownership of the business in both periods. Like for like revenue growth is assessed in local currency and is not affected by changes in foreign exchange rates. 




This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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