In a remarkable display of resilience, digital ticketing platform Trainline has powered through ongoing rail disruption to deliver spectacular half-year results that sent its share price climbing.
The FTSE 250 listed company announced a staggering 21% surge in group net ticket sales, reaching £2.5 billion for the six months ending August 2024. This impressive growth translated to a 22% increase in revenue, hitting £197 million, while underlying profits more than doubled to £33 million.
Defying Industrial Action
Despite persistent rail strikes causing significant disruption across UK networks, Trainline has demonstrated remarkable adaptability. The platform's international business emerged as the standout performer, with sales skyrocketing 43% to £451 million.
UK consumer sales maintained strong momentum with 17% growth, while the UK train operating company segment saw a more modest 4% increase. This performance underscores a fundamental shift in passenger behaviour toward digital solutions, even amid transport uncertainty.
Market Confidence Soars
Investors responded enthusiastically to the results, driving Trainline's share price up nearly 8% in morning trading. The company's confident outlook suggests this growth trajectory is set to continue, with full-year sales growth projections maintained between 8% and 12%.
Jody Ford, Trainline's CEO, expressed particular excitement about the company's international expansion: "Our performance outside the UK has been exceptional, especially in Spain and Italy where we're seeing tremendous adoption of our platform."
Strategic Expansion Pays Dividends
The results highlight Trainline's successful diversification strategy beyond the UK market. The company's investment in European markets is delivering substantial returns, positioning Trainline as a growing force in international rail travel.
This performance stands in stark contrast to the challenges facing traditional rail operators, demonstrating how digital innovation is reshaping the travel industry. As passengers increasingly turn to mobile solutions for their journey planning, Trainline appears perfectly positioned to capitalise on this permanent behavioural shift.
