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National Express says US tax reforms will cut tax rate to low from high 20s
National Express expects changes to the US tax system that came into effect at the beginning of this month to reduce its effective tax rate to the low 20s from the high 20s.
In a statement on Tuesday, the company said it also expects the new measures outlined in the Act to give rise to a small tax credit for 2017 due to the revaluation of deferred tax balances. This will be included in the group's 2017 full year results.
"The group closed 2017 with a continuation of the positive trading momentum identified in our 4th December 2017 statement," it said.
The transport operator will provide more detail on both the impact of the Act and its trading performance in its 2017 preliminary results in March.