Brexit leave vote keeps National Express punters at home

National Express today warned of “subdued demand for travel in the UK” and pressed home the fact that two thirds of its earnings are generated outside the UK as the transport giant feels the impact of Brexit Britain.

NatEx, which employs 44,000 people globally, said its major UK buses and coaches businesses were only proving “relatively resilient” against a tough market, with revenue up 1.7% on its coaches so far this year.

The transport firm said it had overall made “strong progress” between July and October, mostly thanks to its overseas businesses.

Operating profit was up 9% due to strong performances at NatEx’s North American school buses business and its Alsa buses and coaches firm in Spain and Morocco.

The transport giant saw ticket sales rise 5% at its c2c rail franchise at Fenchurch Street, which it said was boosted by its off-peak marketing campaigns. UK coaches continued a strong performance on airport routes, up 20% year on year, which helped offset strong competition especially from rail discounting and lower demand on Eurolines.