Interim results for the six months to 30 June 2008

Highlights

• Excellent progress across the group
  • Group revenue up 59 per cent
  • Continued double-digit revenue and operating profit growth in mainland Europe
  • CrossCountry delivers step-change in UK Trains operating profit
  • 20 per cent increase in UK Bus operating profit
• Substantial increase in earnings
  • Basic earnings per share up 31 per cent to 23.8 pence
  • EPS before goodwill impairment and intangible asset amortisation up 32 per cent to 25.9 pence
• Increased returns to shareholders
  • Interim dividend up 10 per cent to 6.15 pence per share

Commenting on the results, Arriva's chief executive, David Martin, said: "I am delighted by these results. All three divisions are growing strongly, and the business has real momentum. Our focus on Europe's diverse transport markets gives us resilience and great potential for further growth. Our consistent delivery shows the benefits of a broadly-based strategy.

"We plan to maintain growth by continuing to explore opportunities for tenders and acquisitions. Our varied portfolio now extends to 12 countries, and we are well positioned to develop our existing businesses still further. Our established operational skills give us a proven ability to meet the needs of a broad customer base, from national governments to individual members of the travelling public. Higher fuel prices and toughening economic conditions present challenges for the industry, but bring with them the possibility of higher demand for our transport solutions. Arriva is well-placed to benefit from further developments in the markets we serve."

ENDS

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