Earnings per share in line with expectations, investing for growth
- Adjusted earnings per share 14.4 pence (2016: 17.0 pence)
- Interim dividend per share up 8.6% to 3.8 pence (2016: 3.5 pence)
- Profit before tax £89.5m (2016: £90.8m)
- Further investment in new vehicles and technology
- net capital expenditure* £125.5m (2016: £83.9m)
- Bid for new South Western rail franchise submitted, current franchise extended to August 2017
- Our expectation of 2016/17 adjusted earnings per share broadly unchanged
Chief Executive, Martin Griffiths, said:
“We are pleased with the performance of the business in the face of a challenging and uncertain political and economic environment. We have met our expectations of earnings per share for the first half of the year.
“We see positive long-term prospects for public transport and have increased the interim dividend by 8.6%. We have a growth strategy built on continued investment, value-for-money travel and high customer satisfaction and we have made further significant investments to improve our bus and rail services for customers now and in the future. There is a large market opportunity for modal shift from cars to public transport against a backdrop of population growth, urbanisation, technological advancements, and increasing pressure to tackle road congestion and improve air quality.
“We remain confident that we can continue to deliver long-term value to our customers and shareholders. The prospects for growth in public transport in the UK and North America remain good and we are continuing to invest to ensure that our businesses are a central part of that growth.”
“We are pleased with the performance of the business in the face of a challenging and uncertain political and economic environment. We have met our expectations of earnings per share for the first half of the year.
“We see positive long-term prospects for public transport and have increased the interim dividend by 8.6%. We have a growth strategy built on continued investment, value-for-money travel and high customer satisfaction and we have made further significant investments to improve our bus and rail services for customers now and in the future. There is a large market opportunity for modal shift from cars to public transport against a backdrop of population growth, urbanisation, technological advancements, and increasing pressure to tackle road congestion and improve air quality.
“We remain confident that we can continue to deliver long-term value to our customers and shareholders. The prospects for growth in public transport in the UK and North America remain good and we are continuing to invest to ensure that our businesses are a central part of that growth.”
NOW SEE THE LATEST ON THE NEW FOCUS FLICKR SITE:
The now annual vintage bus running day was held by Ensignbus on Saturday 3rd December. As usual there was a varied selection of interesting buses and coaches out on service from both within the company's own 'heritage' fleet plus one or two invited guests. In addition there was the usual 'surprise'. A set of images have been supplied by Haydn Davies, David Heath and Russell Young and provide a splendid flavour of the day's events. These can now be viewed by clicking here
The now annual vintage bus running day was held by Ensignbus on Saturday 3rd December. As usual there was a varied selection of interesting buses and coaches out on service from both within the company's own 'heritage' fleet plus one or two invited guests. In addition there was the usual 'surprise'. A set of images have been supplied by Haydn Davies, David Heath and Russell Young and provide a splendid flavour of the day's events. These can now be viewed by clicking here
