Russ Mould, investment director at AJ Bell, said: “National Express owner Mobico feels like it has been in the garage for repairs for years.
“Recently appointed boss, executive chair Phil White, is engaged in yet another effort to get the share price spluttering into life.
“This involves cost savings and selling off underperforming assets but also trying to get other parts of the business to take some driving lessons from its Spanish arm ALSA.
“This operation is thriving in comparison with the rest of the group and expanding beyond its Spanish base with a major contract win in Saudi Arabia.
“On a company-wide basis, there’s little sign of tangible progress so far, with operating profit for 2025 expected to come in at the lower end of expectations.
“The core coach business is seeing increased competition, demand in UK buses has been weak, and Mobico is racking up losses on a WeDriveU transit contract in Washington.”
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