UK TRANSPORT titan National Express yesterday said it was "well positioned" for the future as the company posted its biggest revenue increase in over a decade.

"We're well positioned to manage inflationary pressures and the potential impact of an economic downturn," chief executive Ignacio Garat told analysts yesterday.

In the six months ended 30 June, National Express brought in £1.3bn in revenue - a 34 per cent increase on last year and the highest in a decade as it secured 16 new contracts in the period.

The company also swung into the black with a £15.8m profit following a difficult first half of 2021, which saw the group post a £24m operation loss after tax.

The company also shrank its underlying operating losses to £12.8m, a 35.7 per cent improvement on last year's levels.

Garat added that the firm maintained its previous guidance for an underlying operating margin of around seven per cent.

(c) 2022 City A.M., source Newspaper