National Express owner Mobico has experienced a significant drop in shares after reporting a decline in half-year earnings.
The company reported a 12.7% fall in underlying operating profits to £59.9 million for the six months to June 30, which is worse than expected. On a constant currency basis, this represents a 4.8% decline.
The company also reported statutory pre-tax losses of £7.1 million, although this is an improvement from the £29.3 million loss reported a year earlier.
No comment from the company is available at this time.
Author summary: National Express owner Mobico sees shares drop after earnings fall.