Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Trainline PLC on Thursday said it swung to a profit, citing "passenger volume recovery" as it eyes net ticket sales growth.
For the six months that ended on August 31, the London-based rail and coach travel platform said net ticket sales more than doubled, reaching £2.16 billion from £1.00 billion a year before.
Trinaline said this reflected "passenger volume recovery across our markets and eticket growth in UK".
Revenue jumped to £165.1 million from £77.7 million. The online ticket seller swung to a pretax profit of £12.2 million, from a loss of £8.4 million a year before.
Operating profit amounted to £16.6 million, compared to a loss of £8.8 million. Adjusted earnings before interest, tax, depreciation and amortisation rose 30% to £45.0 million from £14,7 million the year before.
Chief Executive Officer Jody Ford said: "We delivered strong growth in the first half of the year as we supported rail industry recovery. Helping customers save money continues to be an important focus, through dedicated features such as SplitSave, digital railcards and now digital season tickets too."
Looking ahead, Trainline warned that the cost of living crisis is expected to impact consumer-facing businesses across Europe, with pressure on discretionary spend.
Nonetheless, it reaffirmed annual guidance for financial 2023, expecting to generate net ticket sales growth of 18% and 27% compared to financial 2020, and revenue growth 22% and 31% compared to financial 2020.
Shares were down 2.4% at 332.60 pence each on Thursday morning in London.
Copyright 2022 Alliance News Limited. All Rights Reserved.