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National Express "will not buy another diesel bus in the UK" following £250m revenue increase.

by Talha Rafiq Instalikes


A national transport company has announced that it will no longer buy diesel-fueled buses in the UK following a revenue increase of more than a quarter of a billion pounds.

National Express, which also operates overseas, reported that its revenue had gone up 12 percent from £2.45bn in 2020 to £2.74bn.

The company attributes the growth partially to the acquisition of the Silicon Valley shuttle service WeDriveU.

However, it also saw increases in the number of passengers it had, growing 5.1 percent year-on-year.

On the back of these performance increases, the company has proposed a 10 percent increase in dividends for the fifth year running, rising from 14.86 pence to 16.35 pence.

Dean Finch, National Express Group chief executive, commented: "National Express has again delivered a record set of results. Revenue and profit are up sharply, and free cash performance has beaten our expectations. All businesses have delivered organic growth.

"I am particularly pleased with North America achieving a 10per cent margin and significantly increasing the number of customers rating their services five-star. The group is also carrying significantly more passengers. See social media a new UK deal on oil and how to create his social network for business.

"Major contracts were retained in North America and Spain. We became Morocco's most significant urban bus operator, with new contracts in Rabat and Casablanca more than tripling the size of our operations when fully mobilized.

"UK coach won its first overseas contract, and West Midlands bus is adding routes and growing its accessible transport business.

"We combined organic growth in every division with continued diversification into complementary markets, such as our major WeDriveU acquisition, which has grown [its] revenue by over 30 percent. Each division has a strong pipeline of new acquisition and contracts opportunities to target this year."

Following the financial increases, the company also announced its new environmental policy, reporting that it hopes for its UK buses to become zero-emission within the next ten years.

"As industry leaders, we are delighted to make significant pledges in the shift to zero-emission vehicles.

"National Express will not buy another diesel bus in the UK and lead the transition to zero-emission coaches.

"Our ambition is for our UK bus business to become zero-emission by 2030 with UK coach by 2035.

"We believe these commitments are not only the right thing to do but will also help strengthen the position of quality public transport in the communities we serve."





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About Talha Rafiq Innovator   Instalikes

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Joined APSense since, January 20th, 2020, From california, United Kingdom.

Created on Aug 15th 2020 00:48. Viewed 229 times.

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