RE: RNS - Great Results!!!14 Mar 2024 13:44
Trainline said its revenue growth will beat its forecast, giving the shares another spring to their step. The stock rose 12%.
Revenue in the financial year that ended February 29 rose 21% to GBP397 million from GBP327 million. Trainline previously had guided for a rise between 15% and 20%.
"We are 'buy' rated on Trainline shares because we feel positive investment attributes (strong UK market position, digital channel shift, strong ESG credentials, European prospects) outweigh associated risks and valuation considerations," Stifel analysts said.
One such risk that has faded is one in the UK. Shares in Trainline have risen roughly 30% since mid-December, when the UK government announced it will no longer pursue creating a ticket retailing website and app.