Trainline losses narrow as ticket sales recover

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Train and bus ticketing platform Trainline posted a narrower first-half loss as sales recovered following as easing of Covid restrictions.

Pre-tax losses for the six months through September amounted to £10.3 million, compared to year-on-year losses of £44.7 million.

Revenue more than doubled to £77.7 million, up from £31.0 million.

Trainline opted not to declare an interim dividend.

The company affirmed guidance delivered in September for annual net ticket sales in range of £2.4 billion-to-£2.8 billion.

Adjusted earnings before interest, tax, depreciation and amortisation was still expected in the range of £35 million-to-£40 million, factoring in higher investment in the international business.

Adjusted EBTIDA in the first half amounted to £15 million.

'Our consumer business returned to growth in August versus pre-Covid levels, with train travelers increasingly opting for digital tickets,' chief executive Jody Ford said.

'Encouragingly our customers are now using Trainline even more frequently, drawn to new features such as our new two-click commuter experience and digital railcards.'