(Alliance News) - National Express Group PLC on Thursday maintained its full-year outlook as revenue continued to recover in the third quarter.
The Birmingham, England-based public transport operator said it expects underlying pretax profit in line with expectations in 2021.
Revenue reached 83% of 2019 levels in the third quarter ended September 30, up from 76% in the second quarter.
National Express said it has continued to mitigate the impact of driver shortages, through its "operational agility" and "cost control" across its businesses, plus Coronavirus Economic Relief for Transportation Services funding in North America.
Chief Executive Ignacio Garat said: "We continue to focus on profitable growth with a strong pipeline of opportunities across the group and recent contract wins in Spain and the UK."
Talks continue between National Express and Stagecoach Group PLC over a potential merger of the UK's largest transport providers.
In late September, the company said Stagecoach investors would receive 0.36 of a National Express share for each Stagecoach share following the merger. This would result in National Express shareholders owning about 75% of the combined company.
Shares in National Express were trading up 2.1% at 234.00 pence each in London on Thursday.
By Scarlett Butler; scarlettbutler@alliancenews.com
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