Highlights include:
Strong financial performance, especially free cash flow
Group revenue increased 2% to £1.87 billion on a constant currency basis; down 1% on a reported basis (2013: £1.89bn)
Group normalised profit before tax rose 7% to £145.4 million on a constant currency basis; up 1% on a reported basis (2013: £143.7m)
Statutory Group profit before tax grew by 3% to £66.5 million (2013: £64.4m); up 10% on a constant currency basis
Group ROCE increased to 12.4% (2013: 11.7%)
Year-on-year EPS growth of 6% to 22.7 pence (2013: 21.5 pence)
Free cash flow of £190 million is £40 million ahead of target and higher than last year (2013: £182.8m). Since 2009, National Express has generated £1billion of free cash
Net debt reduced by over £80 million to £664.3 million (2013: £746.1m)
Full year proposed dividend of 10.3 pence, up 3% year-on-year (2013: 10.0 pence).
