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National Express Full-year Profit Falls

National Express Group plc (NEX.L) Thursday posted lower earnings for the full-year, on the back of a revenue fall, reflecting the handover of the National Express East Anglia franchise in February.

For the period, the firm reported pre-tax profit of 69.8 million pounds, down from 129.4 million pounds a year back.

Profit after tax fell to 61.3 million pounds from 102.6 million pounds a year ago. On a per share basis, the firm reported earnings of 11.7 pence, down from 19.8 pence a year back.

On a normalised basis, earnings per share were 25.4 pence, down from 26.9 pence a year earlier.

For the year, the firm clocked revenue from continuing operations of 1.831 billion pounds, down from 2.238 billion pounds a year back, dragged down by rail revenue, which contributed 195.1 million pounds, down from 688.3 million pounds a year ago. The company said, on a constant currency basis and adjusted for the rail handover, total revenue grew by over 7 percent.

The company has further rolled out a final dividend of 6.6 pence, payable on May 17 to shareholders registered as of April 26.

by RTT Staff Writer

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