Shares digital

National Express (NEX) – Finals PTP: £149.9m (£104.1m) Divi: 26.4p (24p)

A positive set of full-year results were just what the doctor ordered for the transport sector following a cautious outlook for Go-Ahead (GOG) last month and operational concerns for FirstGroup’s (FGP) First Great Western rail franchise. A healthy performance was reported across all National Express divisions, with passenger growth rising 6% in trains, 3% in coaches and 2% in buses. Having successfully won the East Coast rail franchise last August, operations started in December as planned. Meanwhile, overseas, Continental Auto was acquired in Spain last October, bringing the group’s Spanish operations to more than 2,100 vehicles, and making it the largest acquisition the group has made to date. Its North American business has also progressed well, securing more than $38 million of new business. The shares in the company rose 3% to £11.58.

Shares says: Fuel costs remain a concern but the group’s diversified portfolio should prove beneficial.

by: Rachel Robson