28th Oct 2024 09:37
(Alliance News) - Trainline PLC on Monday raised its annual outlook as ticket sales rose.
Shares in the London-based rail ticketing platform jumped 9.2% to 368.03 pence each on Monday morning in London. Earlier the price reached 378.00p.
The company now expects annual net ticket sales growth of 12% to 14%, its outlook bumped up from the top end of an 8% to 12% growth range. In financial 2024, net ticket sales were GBP5.30 billion, up 22% from financial 2023.
Trainline's financial year ends on February 28.
A revenue rise between 11% and 13% is now expected, the forecast raised from the top end of a 7% to 11% range. Revenue last year was GBP397 million, up 21% from financial 2023.
It now expects adjusted earnings before interest, tax, depreciation and amortisation to be around 2.6% of net ticket sales. Trainline's previous guidance was for it to exceed 2.5%.
In the six months to August 31, net ticket sales were up 14% year-on-year GBP3.0 billion, and revenue rose 17% GBP229 million. Adjusted Ebitda shot up 44% to GBP82 million in the half-year from GBP57 million a year ago.
In September, Chief Executive Officer Jody Ford had said performance was strong due to the company's "relentless focus on innovation" helping customers to choose digital ticketing.
Trainline will publish its full half-year results on November 7.
By Tom Budszus, Alliance News slot editor
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