3rd Nov 2022 10:41
(Alliance News) - Trainline PLC on Thursday said it swung to a profit, citing "passenger volume recovery" as it eyes net ticket sales growth.
For the six months that ended on August 31, the London-based rail and coach travel platform said net ticket sales more than doubled, reaching GBP2.16 billion from GBP1.00 billion a year before.
Trinaline said this reflected "passenger volume recovery across our markets and eticket growth in UK".
Revenue jumped to GBP165.1 million from GBP77.7 million. The online ticket seller swung to a pretax profit of GBP12.2 million, from a loss of GBP8.4 million a year before.
Operating profit amounted to GBP16.6 million, compared to a loss of GBP8.8 million. Adjusted earnings before interest, tax, depreciation and amortisation rose 30% to GBP45.0 million from GBP14,7 million the year before.
Chief Executive Officer Jody Ford said: "We delivered strong growth in the first half of the year as we supported rail industry recovery. Helping customers save money continues to be an important focus, through dedicated features such as SplitSave, digital railcards and now digital season tickets too."
Looking ahead, Trainline warned that the cost of living crisis is expected to impact consumer-facing businesses across Europe, with pressure on discretionary spend.
Nonetheless, it reaffirmed annual guidance for financial 2023, expecting to generate net ticket sales growth of 18% and 27% compared to financial 2020, and revenue growth 22% and 31% compared to financial 2020.
Shares were down 2.4% at 332.60 pence each on Thursday morning in London.
By Xindi Wei; [email protected]
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