Finch 'clarity' credited with renewing National Express

National Express yesterday said it was back on track after a recovery plan led by new chief executive Dean Finch sparked a 38 per cent jump in annual profits.

The bus, coach and rail operator highlighted its improved prospects by restoring the dividend it axed during a disastrous 2009, when it was forced to return its loss-making East Coast rail franchise to the government.

Since taking the helm last February, Finch has increased the focus on costs, as well as revamping the bus division and securing a franchise extension on its C2C London commuter service from Southend and Tilbury.

The company said the turnaround was running ahead of plan, with profits for 2010 up to 160.5 million from 116.2m a year earlier. It pointed out the result was 15 per cent higher than the market's expectations at the start of the year.

Chairman John Devaney said much of the credit should go to Finch, who he said had brought "clarity and operational focus".