Trainline makes a profit after ticket sales on its platform, as the group focuses on cost-saving offers
- Passenger levels across Britain at 85% of pre-Covid levels in August
- UK net ticket sales double to £1.4bn in first half
- Company maintained its improved full-year outlook, but stock fell 3%
Trainline returned to profit in the first half after a strong rebound in travel demand after the pandemic.
The London-based rail and rail ticketing platform saw UK sales double year-on-year in the six months to the end of August to £1.4 billion.
This reflected “the ongoing recovery in passenger volume” across Britain, the group said, which had risen back to about 85 percent of pre-Covid levels by August.
Trainline said train ticket demand could suffer less as it is less subject to inflation
Revenues have more than doubled to £165m, from £78m a year ago, and pre-tax profits stood at £13.6m, reversing a loss of more than £10m in the first half of 2021 created.
While it still expects the cost of living crisis to impact travel demand, Trainline said rail could suffer less given lower inflation, and stuck to its improved annual forecast for the next financial year. year 2023.
It expects net ticket sales to grow by 18 to 27 percent from 2020, with revenue growth of between 22 and 31 percent.
“The cost of living crisis is expected to affect consumer-oriented businesses across Europe, putting pressure on discretionary spending,” it told investors today.
“However, our research suggests that transport could outperform other sectors and that rail could be more resilient than other modes, given lower inflation.”
The company said it is also doing well abroad, with the number of app users in Italy tripling thanks to a marketing campaign launched last year, while sales to inbound customers in the US increased by 89 percent.
Chief executive, Jody Ford, said Trainline would continue to focus on its money-saving features, such as SplitSave, as well as digital train tickets during the cost of living crisis.
“We delivered strong growth in the first half of the year as we supported the recovery of the rail sector,” he said.
“Helping customers save money remains a key focus, through special features such as SplitSave, digital train tickets and now digital subscriptions.”
Trainline shares fell 3 percent to 330.40p in afternoon trading on Thursday, but they remain about 10 percent higher than a year ago.