Investors jumped on board Trainline after it cashed in on demand for travel and outlined plans to reward shareholders despite ongoing rail strikes.
As the London stock market hit its highest level for situs slot tergacor over six weeks, the FTSE 250 online ticketing app said ticket sales rose by nearly a quarter to £2.6billion in the first half of the financial year – the six months to the end of August.
That led to its revenue increasing by 19 per cent to £197million.
In the UK, ticket sales were up 19 per cent to £1.7billion as more commuters switched from paper to digital ticketing.
Trainline said its results underlined the strength of the industry’s post-pandemic recovery, with passenger numbers moving closer to where they were before Covid-19 struck.
On track: Trainline said ticket sales rose by nearly a quarter to £2.6bn in the first half of the financial year – the six months to the end of August
However, it estimated that each of the 11 days of strikes over the six-month period cost it between £5million and £6million in lost ticket sales.
Elsewhere, strong demand in Spain and Italy saw the group’s international ticket sales surge 24 per cent to £559million.
Trainline’s overall performance gave it enough confidence to reiterate annual expectations for revenue to increase by 13 per cent to 22 per cent.
And with its boss Jody Ford optimistic about the company’s ‘continued growth’, Trainline also launched a share buyback programme of up to £50million over the next 12 months. Shares climbed 11.6 per cent, or 28.6p, to 276p.
Russ Mould, investment director at investment platform AJ Bell, said: ‘Despite another period marred by industrial action, the group has seen an eye-catching increase in ticket sales, suggesting it is gaining traction with travellers not just in the UK but overseas too.
European Central Bank raises rates to a record 4% despite… Arm shares soar on blockbuster New York debut: UK Chip… Hipgnosis ditches hits by Shakira and Nelly in bid to… Spire enjoys healthy revenues as it cashes in on strong…
Share this article
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account
‘There remain limited barriers to entry in this market, but Trainline’s brand is becoming increasingly entrenched, which should provide it with a measure of protection from any prospective rivals.’
The FTSE 100 rose 2 per cent, or 147.09 points, to 7673.08 and the FTSE 250 added 1.8 per cent, or 338.2 points, to 18899.7.