Financial results in line with expectations
· Adjusted earnings per share up 5.7% to 26.0 pence (2013 restated: 24.6 pence)
· Full year dividend per share up 10.5% to 9.5 pence (2013: 8.6 pence)
· Net debt down £76.4m to £461.6m (2013: £538.0m)
· Current trading in line with management expectations
UK Bus
· Market-leading financial performance and customer satisfaction
· Orders for over £110m of new greener buses for 2014/15
· New contract wins in London driven by good cost control and operational performance
UK Rail
· New West Coast Trains franchise agreed
· Extension of South West Trains-Network Rail Alliance
· £9m invested in pursuing new rail franchise opportunities
North America
· Over 80% increase in operating profit
· megabus.com inter-city services driving growth in revenue and operating profit
· Progress in resolving legal cases at Twin America sightseeing joint venture
Growth opportunities ahead
· Focus on customer service improvements to support modal shift
· Development of megabus.com product and footprint
· Planned extensions or direct awards of South West and East Midlands rail franchises
· Shortlisted for InterCity East Coast rail franchise in partnership with Virgin, with pipeline of other new rail opportunities in UK
