Mobico soars after savings for transport giant arrive early

SHARES in Mobico rocketed by as much as 17% today after the train, coach and bus operator successfully pared back its losses and laid out new debt reduction plans.

- Simon Hunt

The company formerly known as National Express Group posted a pretax loss of just over £1 million for the first six months of the year, well down on the £42 million loss recorded in the previous year.

It reconfirmed full-year forecasts of adjusted operating profit between £185 million and £205 million.