Tag: National Express

Stagecoach profits hit by higher fuel and pension costs

Stagecoach profits hit by higher fuel and pension costs

Stagecoach has today reported a fall in first-half profit as a result of higher fuel and pension costs. The bus and rail operator posted a pre-tax profit of A?75.5 million in the six months to the end of October – a fall of 28%. However, the profits exceeded market expectations and the group said it […]

National Express launches A?360m rights issue

National Express launches A?360m rights issue

Bus and train operator National Express has today announced plans to raise A?360 million via a rights issue, which will strengthen its balance sheet as it struggles under a mountain of debt of A?1.5 billion. Shares in the transport group lost 7.9% at 311p in early trading today. Shares in the group have lost almost […]

Merger talks end at National Express

Merger talks end at National Express

Bus and train operator National Express has confirmed that talks over a possible tie-up with rival bus and rail group Stagecoach have ended. In a statement yesterday, the company said: “The board has concluded it is unlikely that a combination with Stagecoach could be successfully executed in 2009, even if appropriate terms could be agreed.” […]

National Express issues profit warning and announces A?350m rights issue

National Express issues profit warning and announces A?350m rights issue

Bus and train operator National Express has today issued a profit warning and is to proceed with a A?350 million rights issue within weeks to strengthen its balance sheet as it struggles under a mountain of debt totalling almost A?1 billion. Analysts say the rights issue will be completed before Christmas. Meanwhile, the company said […]

Stagecoach makes fresh offer for National Express

Stagecoach makes fresh offer for National Express

Stagecoach has approached rival National Express with a A?1.7 billion offer after a Spanish-led consortium withdrew its A?765 million offer last week for the rail and bus group. Stagecoach, the operator of South West Trains and East Midlands Trains, has made a new all-share offer for its rival, following the withdrawal of the Spanish-led consortium, […]

National Express rejects bid from FirstGroup

National Express rejects bid from FirstGroup

Transport group National Express has turned down a takeover bid from rail and bus operator FirstGroup. A successful partnership between the two rivals would create a public transport giant and would run large parts of the UK bus and rail network and a large piece of the yellow school bus services in the US. Furthermore, […]