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National Express Group FY17 Pre-tax Profit Up 16%; Proposes Higher Dividend

Public transport operator National Express Group Plc. (NEX.L) reported Thursday that its fiscal 2017 profit before tax rose 16 percent to 156.4 million pounds from 134.8 million pounds last year.

Profit after tax from continuing operations grew 11.7 percent to 128.4 million pounds from 114.9 million pounds in the prior year.

Group normalised profit before tax from continuing operations was 200.0 million pounds, up from 168.6 million pounds last year. Normalised earnings per share from continuing operations were 29.1 pence, compared to 26.3 pence last year.

Group revenue from continuing operations increased 10.9 percent to 2.32 billion pounds from 2.09 billion in the prior year. At constant rates, revenues increased 6.1 percent.

The company said it is proposing a 10 percent increase in the final dividend to 9.25 pence per share, to give a full year dividend of 13.51 pence.

Looking ahead, the company said it expects to deliver growth in every business again in 2018, as its strategy continues to generate strong shareholder value. The company added that it is actively working on further acquisitions.

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