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National Express Says Q1 Revenue Back To 2019 Levels

National Express Group Plc. (NEX.L) reported that its first quarter group revenue was back to 2019 levels, with March ahead of 2019.

In its trading update for the period 1 January 2022 to 31 March 2022, the company reported seventh consecutive quarterly improvement, with revenue up 30% year on year in constant currency.

The company's quarterly revenue in North America grew by 11% in constant currency, now at around 87% of 2019 levels.

The company's UK revenue grew by 33% in the first quarter.

The company's German rail revenue grew by 64% in constant currency in the first quarter, boosted by the successful mobilization of the two emergency contract awards.

Looking ahead, the company anticipates further strong recovery in demand over the balance of the year, and is confident of delivering further improvements in performance during the year.

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