(Alliance News) - Trainline PLC shares jumped on Thursday, after it reported higher revenue and profit in the first half of its financial year.
It also tightened its full-year guidance, trimming the upper end and lifting the lower end of its revenue growth range.
Shares in the London-based online rail ticket seller were up 8.2% to 284.40 pence each in London on Thursday morning.
Net ticket sales jumped 23% to GBP2.65 billion in the six months ended August 31, from GBP2.16 billion a year before, with revenue rising 19% to GBP197 million from GBP165 million. Pretax profit rose to GBP18.1 million from GBP13.6 million.
Trainline said passenger numbers have almost fully recovered from the Covid-19 pandemic, and it expects growth to continue into the second half, despite headwinds from industrial action and broader macroeconomic uncertainty.
Volume growth and operating leverage resulted in higher profitability, it added.
Looking ahead, Trainline tightened its guidance towards the upper end of its range for financial 2024.
It now expects revenue growth in its full year to be between 15% and 20%, compared to its previous range of 13% and 22%; as well as net ticket sales between 17% and 22%, compared to 13% to 22% previously.
Chief Executive Jody Ford said: "Our growth over the last six months reflects our focus on continually innovating and improving the customer experience of purchasing digital rail tickets."
"In recent weeks we have seen several exciting announcements around the arrival and growth of new rail carriers, which could mean more customers in the UK, in Europe and those crossing the Channel reap the benefits of increased carrier competition. These include improved value and choice, encouraging more people to make the greener choice of rail travel."
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Trainline (TRN)
