National Express sees annual profits soar higher amid boost from rail strikes

Shares in National Express surged as the group reported underlying pre-tax profits of £145.9 million, up from £39.7 million in 2021.

The recent wave of train strikes has helped National Express more than triple annual profits as passengers have switched to buses and coaches to avoid rail disruption. (PA Wire)

The recent wave of train strikes helped National Express more than triple annual profits as passengers switched to buses and coaches to avoid rail disruption.

Shares in National Express soared 13% on Thursday as the group reported underlying pre-tax profits of £145.9 million, up from £39.7 million in 2021, with annual revenues surpassing pre-pandemic levels for the first time since Covid hit.

The group saw revenues jump to a record £2.8 billion, higher than 2019 levels and a more than 24% increase on 2021 on a constant currency basis.