Trainline on track for success with 17 per cent revenue increase
A rail company has announced a 17 per cent increase in tickets for 2019.
Trainline, which has headquarters in London, reported that its net ticket sales last year totalled £3.7bn, up from just under £3.2bn in the previous year.
Revenue increased by 24 per cent to £261m, despite the 46-day long rail strike in France, which Trainline said “significantly impacted” French ticket sales.
The company said that trading softened “significantly” in Italy following an increased number of COVID-19 cases and demand has since weakened across the rest of International.
UK demand, it reports, has remained more resilient, although growth has slowed particularly from inbound travellers.
Clare Gilmartin, CEO of Trainline said: “We are pleased to announce a strong trading performance for this financial year, with net ticket sales in line with and revenue growth ahead of expectations set out at the IPO.
“We have continued to focus on our mission to make rail and coach travel easier for customers in all the markets in which we operate, thereby encouraging a much greener way to travel.
“Our UK Consumer segment outperformed expectations, underpinned by ongoing consumer adoption of our mobile app and etickets, as well as the successful launch of our split-ticketing service ‘SplitSave’, which has been very well received by our customers.
“In International, while French ticket sales were impacted by the nationwide rail strike, I’m pleased we saw a good recovery once the strike ended and a continued strong performance in the rest of our International business.
“We have delivered on our growth plans this year, our first as a public company.
“While the impact of COVID-19 on near-term trading is unclear at this stage, we are well positioned in all of our markets and remain confident in our long-term growth strategy.”
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