Transport group National Express has revealed a 38 per cent rise profits – despite sales dipping by more than a fifth.
Edgbaston-based National Express (NEX) has revealed pre-tax profits of £160.5 million for the 2010 financial year.
The group said it would restore the dividend with a proposed final payout of six pence on the back of the rise.
Overall, group revenue fell by 22 per cent to £2.13 pounds while the underlying profit margin rose to 9.6 per cent from 5.9 per cent.
Chief executive Dean Finch said: “This is a renewed company. Our much improved financial performance provides a platform to drive further growth, continue targeted investment and restore a dividend. With a clear focus on our strategy we are confident in the year ahead.”