15th Sep 2022 09:37
(Alliance News) - Trainline PLC on Thursday reported strong results driven by the post-Covid recovery in UK travel and strong international demand.
The London-based rail and coach travel platform more than doubled its revenue to GBP165 million in the six months that ended August 31 from GBP78 million a year before. Revenue was up 28% from the GBP129 million recorded in financial 2020, the last year before the pandemic.
Revenue in the UK market amounted to GBP88 million, while the international market accounted for GBP24 million. The company's remaining revenue came from Trainline Solutions, which provides travel solutions to businesses and rail carriers.
International consumer revenue more than doubled compared to pre-Covid levels, Trainline noted, saying this was driven in part "by a notable resurgence of inbound customers from the US".
Net ticket sales also more than doubled to GBP2.16 billion from GBP1.00 billion last year. This was a 19% increase on Trainline's pre-Covid figures. The UK market was 45% ahead on its pre-Covid level, while the international market was 81% ahead.
While ticket sales in Trainline Solutions more than doubled to GBP274 million compared to GBP104 million last year, this was a 55% fall from the GBP609 million recorded pre-Covid.
The company noted that it is "on track" to start selling ticket this month for Iryo in Spain ahead of its launch in November. Iryo is Spain's new high-speed train.
Additionally, Trainline now offers digital season tickets across ten different train operating companies to commuters in the UK.
Trainline will publish its half-year results on November 3rd.
Chief Executive Officer Jody Ford said: "Our strong performance in the first half was led by international consumer, where new product launches and brand campaigns are helping drive increased awareness of Trainline and record levels of customer acquisition in France and Italy.
"The strong return of tourists travelling around Europe by train this summer, particularly from the US, further supported growth. In the UK, the rail industry has continued to see passenger numbers recover, reaching 95% of pre-Covid levels during August, its highest level since March 2020."
Shares in Trainline were down 0.4% at 363.00 pence each in London on Thursday morning.
By Chris Dorrell; [email protected]
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