National Express has recorded record group profit, with statutory operating profit up 15.3% to £113.1 million. Primarily driven by all divisions growing organic revenue; Organic growth accounts for c.80% of the normalised operating profit increase. All divisions have grown operating margin, driving Group margin up 60 bps to 10.4%. ROCE is flat at 12.2%, post-IFRS 16 implementation; or up 80 bps on a like-for-like basis. Interim dividend increased by 10% to 5.16p (2018: 4.69p).
