Never mind the train strikes in the UK, it was growth in Italy and Spain that helped Trainline record a big jump in annual sales and profits.
The online train ticketing platform saw its annual revenue rise 21 per cent to £396.7 million while ticket sales rose 22 per cent to £5.3 billion, up from £5 billion million for the first time, and at the upper end of its previous guidance range. . Net international ticket sales exceeded £1 billion, with combined growth in Spain and Italy of 43 per cent.
For the new financial year, Trainline predicted net ticket sales would grow by 8 to 12 per cent and revenue would rise by 7 to 11 per cent.
Trainline also announced a £75m share buyback programme, having recently completed a £50m buyback which began in September. Trainline shares rose 6.6 per cent, or 19.8p, to 320.8p.
The FTSE 100 advanced to a record level above 8,200 for the first time, at 8,248.73, and closed up 0.5 per cent, or 41.34 points, at 8,213.49, still a record.
Full steam ahead: For the new financial year, Trainline predicted that net ticket sales will grow by 8 to 12 percent, and revenue will increase by 7 to 11 percent.
Initial strength on Wall Street provided a boost after weaker-than-expected payrolls data kept U.S. interest rate cuts in play. Meanwhile, the FTSE 250 added 0.6 per cent, or 112.21 points, to 20164.54.
Investors welcomed a new finance chief at Diageo, which rose 0.02 per cent, or 0.5 pence, to 2,729 pence. The maker of Guinness and Johnnie Walker appointed Nik Jhangiani as its chief financial officer, with Lavanya Chandrashekar leaving after three years. Jhangiani has worked in finance at the Coca-Cola bottling group Europacific Partners since 2016.
InterContinental Hotels Group, owner of Holiday Inn, fell 2.1 per cent, or 162 pence, to 7,726 pence. It reported a decline in revenue per available room growth in the first quarter. Weakness in the Americas and a slowdown in China limited progress.
Paper and packaging business Mondi also fell on the FTSE, losing 0.6 per cent, or 9.5p to 1,563.5p.
A weak first-quarter trading update showed selling prices were sluggish and underlying earnings declined, the firm said.
TGI Fridays restaurant operator Hostmore has had its shares temporarily suspended from trading at the previous session’s closing price of 20.2p as it missed the April 30 deadline to publish its annual financial report because the The company’s auditor requested additional time to complete a review of the nonmonetary items. .
However, full year 2023 results were published in the session and showed a much improved operating loss in a transition year, of £11.1 million against £95.8 million in 2022, with total revenues of £190, 7 million, up from £195.7 million. .
The shares closed up 3.6 per cent, or 0.73 pence, at 19.48 pence.
On AIM, surveyors Fletcher King rose 27.1 per cent, or 9.5p, to 44.5p after reporting a strong second half performance, a change from the more cautious outlook it presented in December . Revenue for the year ended April 30 is expected to be materially above management’s expectations.
Marketing technology group Electric Guitar disappointed with its AIM debut. Shares fell 14.3 per cent, or 0.3p, to 1.8p against a subscription price of 2.1p.