Half Year 2022 National Express Group PLC Earnings Call Transcript
I'm first going to take you through the highlights of what has been a strong first half performance. Chris will then go through the financial review, and I will come back to talk about the progress we are making with our evolving strategy and the exciting opportunities ahead.
I will focus on 4 key areas today. The first one is that we've delivered revenue growth, a strong revenue growth. Actually, our record revenue result for the first half of the year. Group revenue is up 34% to GBP 1.3 billion. We are seeing strong growth across all divisions, but particularly in our coach business in the U.K. and Spain. Momentum is building with Q2 stronger than Q1. Secondly, this positive momentum is converting both to profit, into profit and cash. We're seeing significant operational leverage as we return to scale and have generated more profit in the first half of this year than in the whole of 2021. We've delivered a step-up in margin to 7%, and cash conversion has risen to 70%.
Thirdly, the Evolve strategy is delivering
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