7th May 2020 10:24
(Alliance News) - Trainline PLC on Thursday expressed a confident outlook going forward despite the current UK lockdown, amid double-digit revenue growth in its most recently ended financial year.
The digital rail & coach ticketing platform reported revenue growth of 24% in the year to the end of February to GBP261 million from GBP210 million the year earlier, as net ticket sales grew by 17% to GBP3.73 billion from GBP3.19 billion.
The company explained that an improved performance reflects increased mobile demand from greater e-ticket adoption in the UK and strong customer acquisition in International.
Trainline reported a pretax loss of GBP80.2 million for the year, widened from GBP13.7 million the year prior.
Administrative expenses increased to GBP198.9 million from GBP144.9 million year-on-year, while the company also booked GBP21.4 million exceptional fees and charges relating to its initial public offering in June 2019.
"In recent weeks we have seen disruption to our business due to Covid-19, and are grateful to our frontline staff in particular for helping our customers over this period," said Chief Executive Clare Gilmartin.
"We remain confident that the long-term growth opportunity for our business remains unchanged, and are committed to our long-term growth plans," added Gilmartin.
Trainline shares were trading flat in London on Thursday at 350.00 pence each.
By Evelina Grecenko; [email protected]
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