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”).


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.


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.


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.


We store and use information you provide as follows:

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  • 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.


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.


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.


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.


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.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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National Express (NEX)

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Thursday 30 June, 2011

National Express

Trading Statement

RNS Number : 4303J
National Express Group PLC
30 June 2011




National Express Group PLC


Pre close statement


National Express Group PLC ("National Express" or "the Group"), the international public transport operator, today updates on trading for the first half year ending 30 June 2011, ahead of its Half Year Results which are scheduled to be announced on 28 July 2011.



The first half year has seen National Express achieve success in executing the first three phases of its strategy, set out at the 2010 year-end results:


(1) Margin recovery - now in the second year of the programme, the Group remains on course to improve significantly financial performance in 2011, with margin improvement across all businesses;


(2) Organic growth - revenue growth across all five divisions reported in the first quarter IMS has continued through the first half;


(3) Targeted expansion - new contracts have been won in North America and Spain.


Dean Finch, Group Chief Executive, commented:


"Building on our encouraging revenue growth in the first half year, I expect National Express to deliver a significant improvement in financial performance this year, in line with current market expectations. Continued cost control has been increasingly supported by organic growth and targeted bid success. We are well placed to deliver industry leading margins, leverage further growth opportunities and explore additional value-creating possibilities."



In Spain, passenger revenue in the first half year has increased by 7%. The challenging domestic economic environment and higher fuel costs have enabled Alsa to leverage its competitive value position versus car and rail. The Intercity division continues to see growth, particularly on routes from Madrid. In the Urban division, robust growth continues, especially in Madrid and Morocco. This has more than offset weaker revenue in non-transport operations and Moroccan tourist services.


North America

Revenue has increased by 8%. A successful bid season last year, which saw 700 net routes added from September 2010, has been supplemented by a return to organic growth in existing school board contracts and initial success in growing charter market share. From January 2011, an additional 200 routes, secured through the Vogel acquisition, have added further growth.


The Group has had another successful bidding season in 2011. As this comes to a close, almost 600 routes have been added on a net basis. With seven conversions and a 98% retention rate, this demonstrates the strength of the renewed platform in North America.


UK Bus

Against a continuing weak regional economic backdrop, the UK Bus recovery plan has delivered further revenue growth through yield improvement, combined with targeted network optimisation and margin improvement. Commercial revenue in the West Midlands has grown by 6%, more than offsetting a small decline in concessionary fares, following changes to the nationally funded scheme.


UK Coach

UK Coach performance is starting to reflect the structural improvements implemented by the new management team. Revenue growth of 7% in the core express network reflects the brand's excellent value-for-money fares, supported by targeted marketing expenditure and a focus on improving customer service. Revenue grew in each of the core operating segments, with additional airport and London routes driving new opportunities. Although lower contract volume impacted Airlinks and Kings Ferry, the Eurolines business has continued to deliver good growth on key European routes. The Group expects the coming peak period summer months to drive further robust growth.


UK Rail

Strong volume growth in the UK Rail business delivered a 7% increase in passenger revenue with both the East Anglia and c2c franchises performing well. Both franchises are delivering high levels of operational performance, with c2c achieving the fourth successive period of best UK rail punctuality (PPM) at 97.5%. East Anglia continues to deliver its programme of rolling stock investment on time and within budget, supporting further growth for the remainder of the franchise. c2c is investing further in its quality framework to improve the Group's access to future rail opportunities.



National Express Group PLC                        

Jez Maiden, Group Finance Director                          0121 460 8657

Stuart Morgan, Head of Investor Relations                 0121 460 8657


Maitland                                                                      020 7379 5151

George Hudson

Rebecca Mitchell


There will be a conference call for investors and analysts at 0900am on 30 June 2011. Details are available from Rebecca Mitchell at Maitland.


All references to revenue, operating profit and margin are measured on an underlying basis, which compares the current year with the prior year on a consistent basis, after adjusting for the impact of currency, acquisitions, disposals and rail franchises no longer operated.

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

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