Management reassured investors noting early Christmas is trading up from last year whilst it announced two acquisitions abroad.
Companies: Mobico Group PLC
National Express Group (LON: NEX) has seen a small jump in its share price after it announced two acquisitions and gave a brief trading update.
The Group has acquired a 204 bus and coach business in the US City of Cincinnati as well as a Madrid bus operator with 73 vehicles who provide staff transfers for a large local airline and national bank headquarters.
Management said both businesses are:
"Expected to deliver returns in line with our guidance of 15-20%."
The update also noted "good trading performance" across all its divisions in October and November while early Christmas trading in its UK and Spanish coach operations was "encouraging", with advanced sales higher than last year.
It reiterated it was on course to reach its targets for the full-year which will finish at the end of the calendar year. Its FY17 results are expected in March.
Shares in NEX whose Market Cap is c. £1.9bn jumped 2% as a result.
The Group reported a Net Profit of £117m from Revenues of almost £2.1bn in FY16. Consensus forecasts Net Profit to grow to £149m and Revenues to£2.3 bn in FY18, representing Earnings Per Share of 29p.