(Alliance News) - Trainline PLC on Wednesday raised full-year guidance after reporting a "faster than anticipated recovery" in rail passengers.
The rail and coach ticketing platform said net ticket sales in the four months to June 30 were 16% above pre-Covid levels.
Trainline shares jumped 22% to 343.10 pence each in London on Wednesday morning.
"This performance reflects a faster than anticipated recovery in rail passenger volume across Europe - including a notable resurgence of inbound customers from the US - as well as the benefit of Trainline increasing its investment in its international business," Trainline explained.
The company now expects full-year net ticket sales growth between 18% and 27% versus pre-Covid levels. It expects revenue to be 22% and 31% above pre-virus levels.
It had previously expected net ticket sales in a GBP3.8 billion to GBP4.2 billion range, between 2.0% and 13% above the pre-Covid figure. Revenue was expected to land between GBP280 million and GBP300 million, which would have been between 7.3% and 15% above pre-virus levels.
"Not only is domestic rail travel rebounding at an impressive rate across Europe, but tourists are also returning strongly, with Americans leading the way. More and more people are recognising that travelling by train is better for the environment and the best way to travel cross-country and cross-border at speed. With an increasing number of train carriers offering high-speed services across the continent, the appetite for train travel is set to increase," added Chief Executive Officer Jody Ford.
By Tom Budszus; tombudszus@alliancenews.com
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Trainline (TRN)