National Express speeding up thanks to a sterling tailwind

National Express, the British transport operator that runs trains and bus services in Germany and Spain, has seen a leap in revenues because of the weaker pound.

The group, which has clawed its way back to health from problems in 2009 when it lost control of the East Coast main line, said overall revenues rose nearly 16% since the start of the year, helped by the boost when translating euro earnings into pounds.

The UK Coach business had a bumper Easter with revenues up 4% over the holiday, and up 2.7% since the start of the year.

Chief executive Dean Finch is in line for a £1 million bonus. But some shareholders were expected to vote against it at today’s AGM, in outrage that he is taking a bonus in a year in which six children were killed in the US when travelling on one of the company’s school buses.

National Express, once the country’s biggest trains operator, sold its only rail franchise, the profitable c2c line from London Fenchurch Street to Southend, to Trenitalia, the Italian state railway, in January.

The operator has said it has no plans to bid for forthcoming rail franchises.