Cost savings 'putting National Express back on track'

National Express said it expected to make "good progress" in its half-year profits thanks to an efficiency drive. The bus, coach and rail company, now under the leadership of Dean Finch, a former boss of Tube Lines, said cost savings were helping to shore up its results, while revenue trends had been "resilient".

Mr Finch said the tough action taken so far would "progressively improve performance from the second half-year onwards". That would be a significant turnaround for NatEx following a disastrous year at its rail business.

The company returned its loss-making East Coast main line franchise to government control in November after overbidding for the contract before the recession struck. It will also end its East Anglian and c2c commuter deals in 2011. Mr Finch said he was taking "hands on control" of all the businesses to get them back on track.