Mar 13th 2013 - Edison Investment Research today published a report on National Express (NEX.L, LSE:NEX, LON:NEX) entitled "International Strength". In summary, the report says:
National Express’ results demonstrated the business is building a strong base from which to provide sustained organic growth, despite significant headwinds endured in 2012, including the handover of the NXEA rail franchise. As a result, operating profit fell and there was a decline of one million elderly and disabled UK coach passengers following the removal of the concession scheme. However, with four of the five divisions performing strongly, a keen focus on operational efficiency and numerous contract wins achieved on the international stage, National Express has positioned itself to provide sustained growth. With consistent cash flow generation, the group has the flexibility to further invest and deliver shareholder returns.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »