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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Tuesday 20 December, 2011

National Express

Trading Statement

RNS Number : 2861U
National Express Group PLC
20 December 2011



Press release


20 December 2011


National Express Group PLC

Pre-close trading update

Completing 2011 in strong shape


National Express Group PLC, a leading international public transport group, operates bus and coach services in the UK, Continental Europe, North Africa and North America, together with rail services in the UK.


National Express Group PLC ("National Express" or "the Group") releases a pre-close trading update for the year ending 31 December 2011.



National Express remains firmly on target to deliver revenue and profit growth in 2011 in every one of its divisions. Trading across the Group remains strong and full year profit is expected to be in line with the Board's previous expectations.


Flexibility in our networks and fleet operations, a focus on optimising costs and selective investment in new services and growth opportunities combine with secure, long-term funding and cash liquidity to create a resilient, highly effective public transport business. Our strategy ensures that we are well positioned to deliver significant earnings growth in our non-rail businesses in 2012.


Dean Finch, Group Chief Executive, commented:


"National Express is finishing 2011 in excellent shape. We are growing revenue and profit in all five of our divisions. We continue to invest in new fleet and offer exceptional value to our customers, enhancing the quality of our services at prices our passengers can afford. As recent passenger growth has shown, our customers value our competitive pricing during this period of economic uncertainty. This strong foundation, coupled with a clear cost focus and the operational flexibility of our business, leaves us well positioned to pursue new opportunities to deliver value to shareholders in the future."



Transport revenue growth in Spain is expected to be 5% in 2011 and trading has remained robust after the busy summer season. Growth in the inter-city division continues to reflect the excellent competitive position of coach travel in the current economic environment. In the urban division, where the majority of business is under long-term fixed contract to city councils, we have seen a continuation of strong service demand.


North America

The North American school bus business continues to lead its market and this year will broadly double the 2009 operating profit level. Revenue growth for the full year is expected to be 8%, following a successful start to the new school year and a significant increase in charter revenues during the year. Budgetary constraints on school boards continue to drive interest in conversion to outsourced bus operations. The previously announced acquisition of Petermann Partners Inc. is progressing through regulatory clearance, with an expected completion date in late January 2012. We continue selectively to explore new opportunities within our target markets.


UK Bus

2011 should see our UK Bus margins restored to above industry average levels. Commercial passenger revenue is expected to have grown by 4%. Commercial passenger numbers have recently returned to growth in the West Midlands. Our fares present real value to our customers, with National Express continuing to offer amongst the lowest average daily travel costs to its passengers. Over a 12 month period we will have introduced around 250 new buses, replacing 15% of our fleet, which is expected to drive further customer demand. Our investments in on-bus technology, smartcard ticketing solutions and targeted marketing reflect the continued growth and cost improvement opportunities available in this business.


UK Coach

Revenue growth in the core National Express coach network is expected to exceed 5% in 2011, with airport, long-haul and London commuter services performing particularly well. Our offer of 'every day value' is supported by the launch of additional new services, including new airport services linking Leeds, Manchester and Liverpool airports, and new Gatwick Airport routes. Initial sales of senior citizen coach concession discount cards are progressing well, with over 35,000 cards already sold, as part of our plan to mitigate the impact of the removal by the UK government of the half-price concession from 1 November 2011.


UK Rail

Rail division revenues are expected to grow by 6% in 2011. Passenger volume growth remains strong, particularly at c2c. With the EFQM quality process embedded at c2c, which continues to deliver one of the best performances in service punctuality of any UK train operator, we are well positioned to progress towards pre-qualification for the rail refranchising programme expected in 2012.


The Group will announce its results for the year ending 31 December 2011 on 1 March 2012.





National Express Group PLC   

Jez Maiden, Group Finance Director


0121 460 8657

Stuart Morgan, Head of Investor Relations


Anthony Vigor, Director of Policy and External Affairs  

07767 425822  


020 7379 5151

Neil Bennett   

George Hudson

Rebecca Mitchell


There will be a conference call for investors and analysts at 0830 on 20 December 2011. Details are available from Rebecca Mitchell at Maitland.


All references to revenue and operating profit are measured on an underlying and normalised basis. Underlying revenue 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. Normalised profit is the statutory result excluding profit or loss on the sale of business, charges for goodwill impairment, intangible asset amortisation, exceptional items and tax relief thereon, for continuing operations. The Board believes that the normalised result gives a better indication of the underlying performance of the Group.


EFQM is the European Foundation for Quality Management.


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

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