National Express (LON:NEX) reports revenue improvements between the first and second lockdowns.
The FTSE 250 company said in its latest trading update that its revenues in October were 60% higher than in April.
The group is operating, about half of its services, and in November the second lockdown was run only 9% of last year’s services.
Group CEO Ignacio Garat said: “In my first few weeks with the group, I was impressed by both the professionalism of my colleagues and the resilience of our major business portfolio.
“Positive vaccine news over the past few days could indicate faster service recovery in the medium term than previously expected. Nevertheless, these remain a difficult time for the public transport sector, at least in the short term.
“But we are confident that National Express will continue to overcome the challenges we face and have a strong foundation to thrive once the pandemic is over.
“We are pleased with the strength of our relationships with our clients and government across the group, which is reflected in and we receive the amount of support we have.
“We will continue to actively and actively attract customers and relevant authorities to navigate the challenges the pandemic presents.
“Additionally, as part of a broad focus on maintaining the group’s financial position, returns seeking investment will continue to manage costs closely and carefully and remain extremely disciplined.”
National Express forecasts annual revenues to range from £170 million to £190 million.
National Express stocks (LON:NEX) have fallen from an annual high of 485,00, and are now 0.52% higher at 230,20 (1221GMT).
