National Express denies profit warning as problems hit North American business

Problems in North America have contributed to the news that profits will be lower than expected

Problems in North America have contributed to the news that profits will be lower than expected

Problems at troubled National Express Group have continued with the group today warning that profit's for the current financial year will be lower that expected.

However, interim chief executive Ray O'Toole denied the group was issuing a profit warning. "This is not what we would call a profit warning," he told The Guardian today. "What we have said is that profits will be slightly below previous expectations. Obviously we have a rights issue coming and we wanted to be as...