National Express (LON:NEX) - International strength
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.
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