Half year results

[Tony]

National Express Group have published their half year results this morning

http://www.nationalexpressgroup.com/media/corporatenews.aspx?newsyear=2013&newsitem=1067

[winston]

It's noticeable that UK Bus profits have fallen by £2.2 Million in the half year between 2012 & 2013 (margin being reduced by 1.8% to 11.1%), with revenues £1.3 million higher.

NX are still targeting industry leading margins, hopefully all the new buses will go some way to reducing overall fuel consumption & the impact of reduced fuel duty rebates / higher fuel costs

[Wolves256]

Interesting information in the full half year report on UK Bus investment
'90 new buses were added in the first half of the year, bringing the total new vehicles over the last two years to 340'
In addition it states that the ground-breaking Transforming Bus Travel partnership with Centro, the local Passenger Transport Executive.
'will see a further 300 new buses added to our fleet by June 2015'

So based on above it looks like the balance of the 2013 order for 130 vehicles (I make it 41) is include in the 300 vehicles up to June 2015 so NX will still be investing in 130 new vehicles per year, this is a good level of investment and will ensure for a 1500 vehicle fleet a maximum age of 12 years.

All the above has already been mentioned in various press releases so below I have tried list all the various orders.

2011/2/3 (339 vehicles)
2011 Investment (120 new vehicles)
9    Wright Gemini Hybrid
9    ADL E400 Hybrid
50  ADL E400
52  Wright Eclipse

2012 Investment (130 new vehicles)
100 Wright Eclipse
30   ADL E200

2013 Investment to date (89 vehicles)
9    Wright Gemini Hybrid
21  ADL E400 Hybrid
34  ADL E400
25  B7 Wright Eclipse 

June 2013 > June 2015 (300 new vehicles)
2013 Investment till to be delivered
26   ADL E400 
15   ???? TBC       

New investment
259 ???? TBC 

This investment should eliminate all Volvo B6, Volvo B10L/B, Mercedes O405N, Optare Spectras over the next 2 years plus a start on withdrawing Volvo B7 Presidents and early Dennis Tridents

[Liverpool Street]

Really? Withdrawing Tridents in 2015 I can't see happening. I think they'll be the 21st century Metrobus hehe

[winston]

The stock market seems to like NX Groups half year results, shares are currently up nearly 7% @ 262p (very near the 12 month high) Mkt Cap currently £1.341 Billion

[The Real 4778]

Really? Withdrawing Tridents in 2015 I can't see happening. I think they'll be the 21st century Metrobus hehe

I'm with you on that, Ratty.  I think the Tridents will take on the 'Birmingham Standard' mantle and be with us a while longer.