National Express Group PLC NatEx named preferred bidder for Porto contract (2211Z)

TIDMNEX

RNS Number : 2211Z

National Express Group PLC

16 September 2015

16 September 2015

National Express has been named preferred bidder for the Porto bus contract

National Express Group PLC ("National Express" or the "Group"), is a leading international public transport group, operating bus, coach, rail and tram services across the UK, continental Europe, North Africa, North America and Bahrain.

National Express is pleased to announce it has been named preferred bidder for a contract to operate buses in Porto, Portugal. The bid was led, and the services will be run, by National Express' Spanish business, ALSA.

The contract will run for ten years and is expected to generate revenues of around EUR500 million over the life of the contract. National Express' services will carry more than 75 million passengers a year, on approximately 420 buses.

National Express will now enter the standard further discussions with the relevant authorities to conclude the contract. The contract is expected to start in the first quarter of 2016.

Dean Finch, National Express Group Chief Executive, said: "National Express is delighted to have been named preferred bidder for the Porto bus contract. This success is further evidence of our strong international credentials opening up new market opportunities.

"We will continue to assess other opportunities that meet our strict returns criteria. As in this Porto bid, our focus will remain on delivering excellent services for passengers alongside good returns for shareholders and taxpayers alike."

Notes:

National Express has been named preferred bidder by the Board of Sociedade de Transportes Colectivos do Porto, S.A. (STCP).

 
 Enquiries 
 
  National Express Group PLC 
 Anthony Vigor, Director of Policy 
  and External Affairs                    07767 603386 
 Louise Richardson, Investor Relations 
  Manager                                 07827 807766 
 
 Maitland 
 Rebecca Mitchell                         07951 057351 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 16, 2015 07:28 ET (11:28 GMT)