17th Dec 2019 08:27
(Alliance News) - Trainline PLC on Tuesday reiterated annual guidance as it continues to deliver strong growth in ticket sales and revenue.
For the nine months to November 30, Trainline's revenue rose 26% to GBP198 million, with UK revenue up 22% to GBP178 million and International rising 90% to GBP20 million.
Revenue from the UK consumer segment climbed 31% to GBP133 million, though Trainline for Business revenue in the UK was flat at GBP45 million. Trainline did note there was a slowdown in the third quarter of its year as large corporations cut discretionary travel spending.
Trainline, which has a rail and coach ticket purchase platform, reported net ticket sales of GBP2.86 billion for the nine months, 18% higher than the year before. In the UK, net ticket sales were up 14% to GBP2.47 billion, with International climbing 49% to GBP390 million.
UK consumer net ticket sales rose 24% to GBP1.54 billion, with business sales rising 2% to GBP930 million.
Trainline noted ticket sale growth has been driven by strong demand from mobile users, as customers increasingly move towards e-tickets.
Looking ahead, London-based Trainline reaffirmed guidance for its financial year ending February of net ticket sales growth in the high teens as a percentage, with revenue growth in the low-to-mid-20% range.
However, the company did note that strike action currently taking place in France is likely to have "some" impact.
Chief Executive Clare Gilmartin said: "We continued to deliver strong growth in the third quarter of the financial year while we focus on our mission to make rail and coach travel easier for customers worldwide, encouraging a much greener way to travel.
"We are on track to deliver our plans for the full year and will continue to invest both in the UK and internationally to deliver the significant growth opportunities for Trainline in the year ahead."
Trainline shares were 1.6% lower on Tuesday morning in early trade in London at 502.00 pence each. The company, now a FTSE 250 member, listed in London in June at 350p per share, meaning a 45% share price rise since then.
By George Collard; [email protected]
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