National Express Owner Sees Shares Decline
National Express owner Mobico has experienced a significant drop in shares after reporting a decline in half-year earnings.
The company reported a 12.7% fall in underlying operating profits to £59.9 million for the six months to June 30, which is worse than expected. On a constant currency basis, this represents a 4.8% decrease.
Additionally, National Express remained in the red with statutory pre-tax losses of £7.1 million, although this is an improvement from the £29.3 million loss reported a year earlier.
No comment from the company regarding the future plans.
Author summary: National Express owner Mobico sees shares fall after earnings drop.