NATIONAL Express has geared up for its showdown with a rebel shareholder with a 30% leap in quarterly profits.

The bus, coach and rail operator said the performance for the three months to March 31, which included a 5% rise in revenues, supported its current strategy in the face of a campaign by Elliott Advisors for radical change.

The matter will come to a head on Tuesday when the American hedge fund, which owns around 17.5% of National Express, will ask fellow shareholders to back the election of three new non-executive directors.

It believes the appointments will re-invigorate the board while it attempts to garner support for a shift in the company’s strategy.

Possible options could see the bus and coach operator tie-up with another UK rival such as Stagecoach, refocus on the United States or sell-off part of the business.

However, chief executive Dean Finch said today’s update demonstrated the group’s strategy was “sound and will deliver significant shareholder value over the long-term“.