National Express group increases its 2017 full year dividend by 10%

DividendMax Ltd.

National Express group increases its 2017 full year dividend by 10%

Our focus on operational excellence continues to deliver results

An excellent first full year of the new c2c franchise, including being named Passenger Operator of the Year and record passenger numbers, drove revenue growth of 9.5%

A five-year "Bus Alliance" secured with local authorities in the West Midlands, a first for the UK. This award winning and industry-leading approach to partnership has helped drive 10.3% growth in operating profit

Successful North American School Bus bid season, with an average price rise of 2.8% across all contracts, off-setting wage inflation. Further progress on new acquisitions, with five made in the year

UK Coach's further development of sophisticated marketing and revenue management, coupled with new strategic partnerships, saw operating profit increase by 15.4%

A record year of passenger numbers in ALSA, with the Spanish revenue management system and further significant growth in Morocco both helping operating profit increase by 5.8% on a constant currency basis

This focus is driving strong returns and free cash flow

Free cash flow of £111 million, £11 million ahead of target

Net debt increased by £81.2 million to £745.5 million, reflecting £106 million spent on acquisitions and growth capex - all of which are accretive within 12 months

Full year proposed dividend of 11.33 pence, up 10% year-on-year (2014: 10.3 pence)

Growth in statutory profit before tax of 87% and statutory profit after tax of 80% with no exceptional costs in 2015

ROCE improved from 10.7%* to 11.7%

Companies mentioned