Trainline increases revenue expectations as sales soar
Shares in Trainline jumped more than six per cent this morning as the ticket-selling platform announced soaring sales in the first half of the financial year.
Trainline raised its full-year revenue growth expectations to the low to mid 20 per cent range as it reported that revenue was up 29 per cent to £129m in the six months to 31 August.
Read more: Trainline on track as it posts big sales boost in first results since IPO
The increase was driven by strong UK consumer revenue growth of 34 per cent and a 99 per cent surge in international revenue as the company continued to target new income streams.
Total group ticket sales were up 19 per cent to £1.84bn, driven by a 52 per cent increase in the international business.
Trainline said it expects to spend on additional marketing investment to support the growth of its international business through the final phase of re-platforming.
Trainline chief executive Clare Gilmartin said: “We are pleased with the strong levels of growth we have delivered in the first half of the year.
“Our performance is underpinned by the long-term shift of customers from offline to online, the successful roll-out of e-ticketing and our continued focus of making rail and coach travel easier for customers worldwide.
“As most rail and coach tickets continue to be sold offline, and as customers and governments commit to championing more environmental modes of travel, we see significant growth opportunities for Trainline over the long term.
Read more: Trainline on track for £1.7bn IPO
“We are delighted our IPO in June was received so positively and are focused on delivering the strategy we set out, as evidenced by our performance in the first half.”
The company will announce its interim results for the first half of the financial year on 5 November.
Main image credit: Getty