The company reported a pretax profit of
It said the industrial action at its Alsa subsidiary in
Still, the company raised its interim dividend to
The company has recently been focusing on improving its cash flow and cutting debt, a process it pledged to continue.
"We will continue our focus on cash generation, with capital investment remaining lower until the end of 2014. Our target for free cash flow is
It said it is making progress in its three key strategy areas: customer satisfaction is strong, operational metrics are continuing to improve, contract-retention levels are positive and cost efficiencies are outstripping inflation.
"We made clear in our previous statement that extreme weather and industrial action in the US and
Its biggest unit by revenue is its North American business, which won its largest ever US school bus conversion contract during the period and retained its largest US transit contract. Still revenue was flat in the region in dollar terms, and declined 7% in sterling terms.
Revenue increased 2% in its
It has been trying to bolster its rail operations, but had mixed success during the half. It retained its highly-rated Essex Thameside franchise in the
However, it is currently in the running for the ScotRail franchise in the
Elsewhere, "we have been selected as the preferred bidder for a bus contract in
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