Trainline lines-up £50m share buyback as sales accelerate
- Trainline revealed its first-half net ticket sales increased by 23% to £2.65bn
- UK sales benefited from passenger volumes regularly nearing pre-Covid levels
- The firm’s shares topped the FTSE 250 Index, with a 12% rise in early trading
Trainline shares soared on Tuesday after the group revealed a £50million share buyback following better-than-anticipated growth in the first half.
The digital railcard platform experienced a 23% increase in net ticket sales, reaching £2.65 billion for the six months ending in August. Turnover also rose nearly a fifth to £197 million.
Ticket purchases in Trainline’s UK consumer division exceeded £1.7 billion, driven by more customers booking online and on the day of travel.
Travelling far: Trainline announced a £50million share buyback programme on Thursday
Despite strikes by workers from the RMT and Aslef unions, which cost the company £5 million to £6 million per day in lost sales, Trainline benefited from passenger volumes reaching near pre-pandemic levels.
Ticket demand in foreign markets increased by approximately a quarter to £559 million, driven by successful performances in Spain and Italy.
Italy’s growth was supported by new advertising campaigns, while Trainline’s expansion in Spain was fueled by the liberalisation of the country’s high-speed rail system.
Although digital sales slowed overseas due to higher competition in keyword auctions, demand continued to
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