14 March 2024 , 14:29
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Trainline's ticket sales have jumped after a reduction in rail strikes in the UK and increased demand abroad.
Shares in the company increased by over a tenth in early trading to their highest level in two years after it said sales were at the top end of market expectations. Trainline said group net ticket sales increased by 22% to £5.3 billion in the year to February 29.
The company had previously forecast growth of between 17% and 22% for the period. Group revenues rose by 21% year-on-year to £397 million as a result.
UK consumer revenues rose by 21% after the division saw £3.5 billion in ticket sales amid a continued recovery in rail travel following the pandemic. The boost was also supported by "fewer strikes than in the prior year, which were also less severe in their impact".
Jody Ford, chief executive of Trainline, said: "We outperformed expectations this year, growing strongly in the UK and across the continent, with international consumer net ticket sales of more than £1 billion. Our growth was fastest in Spanish domestic travel, which doubled year on year as we position ourselves as the aggregator of choice."
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"Trainline's market share continues to rise on key routes like Madrid-Barcelona, which is now our third most popular route across all countries, including the UK. This reflects liberalisation and emerging carrier competition that is set to transform European rail, driving down prices for customers while increasing choice and value."