There is some good news ultimately for the troubled National Express.

From the dejection of a scrapped rail franchise and sharp financial losses incurred in 2009, the transport group submitted annual results for 2010 yesterday showing a return to profit and a proposed final dividend of six pence per share.

Under the newly appointed chief executive Dean Finch who joined this month from Tube Lines, which is the London Underground public private partnership, the company witnessed revenues boom by twenty two per cent to £2.1bn, and pre-tax profits surged by thirty eight per cent to one hundred and sixty one million pounds leaving statutory profits of sixty two million pounds compared with fifty three million pounds of losses last year.

Mr. Finch's turnaround strategy in which restructuring the National Express bus network and extending its East Anglia and C2C London commuter train franchise has been included has been sufficiently successful to surpass analyst forecasts and see the restoration of the dividend that got scrapped in 2009 to alleviate the losses from collapse of its East Coast rail franchise deal.

Chairman John Devaney was quite optimistic yesterday, praising Mr. Finch for the clarity and operational focus that he has incorporated into the group.

After going through disturbances in 2009 the company is rebuilding a high-quality business, concentrated on its core operations and established on a sound financial footing, Mr. Devaney said

Mr. Finch was equally aggressive The company is renewed ,he said and its much improved financial performance gives a platform to get further growth, consistent targeted investment and restore a dividend. With a clear focus on the strategy, the firm is confident in the year ahead.