440p - loving the upgrade target today post results by Peel Hunt... yes 440 !!!!4 May 2023 10:12
Ticket sales were £4.3 billion
Trainline PLC (LSE:TRN) shares jumped 12% in early trade on Thursday after the company reported ticket sales of £4.3bn for the last 12 months, a 72% year-on-year (YoY) increase and 16% higher than pre-Covid levels.
Revenues reached £327mln, up 74% from last year, driven by surging ticket sales in the UK and Europe, while operating profit was £28mln for the 12 months ended February 28, 2023, up from a £10mln loss in the year prior.
International ticket sales, especially in Spain, contributed to the company's strong performance, with a four-fold increase in net ticket sales from last year.
CEO Jody Ford said Trainline is "building great momentum" and expects further strong growth in the coming year. Operating profit rose to £28mln, compared to a £10mln operating loss last year.
Analysts at City broker Peel Hunt said: "Trainline is resolutely executing its strategy, providing innovative tech for clients (both consumer and business) to power the Railway Revolution of the 21st Century."
They raised their price target for Trainline to 440p a share from 385p a share following the bullish update.