Trainline interim profit soars as net ticket sales grow more than 10%

(Alliance News) - Trainline PLC on Thursday said profit more than doubled in the first half of ...

Alliance News 7 November, 2024 | 11:33AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Trainline PLC on Thursday said profit more than doubled in the first half of its current financial year, as net ticket sales also increased.

The London-based rail ticketing platform said pretax profit in the six months that ended August 31 was GBP46.5 million, multiplying from GBP18.1 million a year prior.

Net ticket sales during in the six-month period were GBP3.00 billion, up 12% from GBP2.65 billion last year. Revenue to the company from this grew 15% to GBP229.1 million from GBP196.9 million.

Chief Executive Officer Jody Ford said: "We are proud that our tech-focused investment continues to deliver for customers and the industry across the UK and Europe. In Spain, we have more than doubled our share on routes with carrier competition, including Madrid-Valencia where we account for 1 out of every 6 transactions, as we cement our position as the aggregator of choice.

"In the UK, as the number one travel app, our focus remains on partnering with industry, encouraging the adoption of rail and digital ticketing and supporting the government's commitment to passenger-focused digital innovation."

Looking ahead, Trainline expects full-year net ticket sales to be between 12% and 14% higher than the GBP5.30 billion reported in 2023. It expects revenue growth of between 11% and 13% from GBP397 million last year and adjusted earnings before interest, tax, depreciation and amortisation around 2.6% of the net ticket sales.

The company expects adjusted Ebitda for 2026 to be between around 2.6% and 2.7% of net ticket sales.

Shares in Trainline were up 4.6% at 415.00 pence each in London on Thursday morning. The wider FTSE 250 index was up just 0.6%.

By Emily Parsons, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Trainline PLC 418.20 GBX 5.39 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures