By Graeme Evans
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Trainline today bolstered annual profit guidance after reporting that net ticket sales rose 8% to £3.2 billion in the six months to the end of August.
The sales growth, which compares with the company’s full-year target range of 6-9%, helped lift group revenues by 2% to £235 million.
The FTSE 250-listed online ticketing platform now expects adjusted earnings growth at the top end of its previous guidance range of between 6% and 9%.
UK consumer net ticket sales were 8% higher at £2.1 billion, while the international business grew 2% to £594 million as Trainline focused investment on European high-speed routes with emerging carrier competition.
In Southeast France, increased carrier competition between Paris, Lyon and Marseille drove second quarter sales growth of 34%.
Chief executive Jody Ford said: “Rail liberalisation in Europe continues to demonstrate the value Trainline brings as the preeminent domestic aggregator.”
Trainline announced a share buyback programme of £150 million over the next 12 months, which if completed would bring the total to £350 million in three years.
