17th Jun 2021 08:30
(Alliance News) -Â Trainline PLC on Thursday reported its best ticket sales since the start of the pandemic as a relaxation of lockdown rules saw passengers return to public transport.
Shares surged 4.0% to 281.93 pence in opening dealings in London, making Trainline the top performing FTSE 250 stock on Thursday.
The rail and coach ticketing platform reported total net ticket sales of GBP334 million for the three months ended May 31, surging from just 79% a year ago. UK sales made up the bulk, standing at GBP270 million in the firm's first quarter versus GBP67 million a year prior.
UK lockdown restrictions eased over Trainline's first quarter, with pubs, non-essential shops and hairdressers opening up in mid-April and indoor dining resuming in mid-May.
"It's very encouraging to see people returning to train travel as lockdowns and restrictions gradually ease. By the end of May we were selling more tickets than we were in the same period two years ago," said Chief Executive Jody Ford.
Net ticket sales in the three months to May 2021 represented 37% of the level registered in the same period two years ago. However, the figure for the month of May was a more encouraging 52%, and marked the highest level post-pandemic.
UK Consumer ticket sales in May stood at 70% of the level recorded two years ago.
"Ticket volumes in May were 92% of FY2020 levels and returned to Yo2Y growth as we exited the quarter - a significant outperformance vs wider industry passenger volume, which was at 44% of pre-Covid levels in the month," Trainline added of the UK Consumer performance.
CEO Ford said: "Having maintained our investment in product and tech throughout the pandemic, we are uniquely placed to support the industry recovery while leading the market shift to online and digital channels. This is reflected in the step up in eticket penetration and the pace of our recovery this quarter."
By Lucy Heming;Â [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Trainline