Trainline revenue surges to £198m on £2.9bn ticket sales
Trainline enjoyed a 26 per cent jump in revenue in the first nine months of its current financial year, it revealed today.
The ticket-booking app saw total group revenue hit £198m after international income soared 90 per cent year on year to £20m and UK consumer revenue leapt 31 per cent to £133m.
Read more: IPO costs knock Trainline into loss despite jump in ticket sales
The revenue comes off group net ticket sales of £2.9bn, a year-on-year rise of 18 per cent.
The strong performance comes after revenue soared 29 per cent to £129m in the six months to the end of August.
That means it booked £69m of revenue in its third quarter, beating the average of £64.9m it booked in its first two quarters.
However, it did see a slowdown in UK business travel spending in its latest quarter, with its UK Trainline for Business unit recording a sales rise of just two per cent.
It also warned of the impact of French strike action on international sales in its third quarter.
That sent shares down almost two per cent in early trading to 500p.
“We continued to deliver strong growth in the third quarter of the financial year while we focus on our mission to make rail and coach travel easier for customers worldwide,” Trainline CEO Clare Gilmartin said.
“We are on track to deliver our plans for the full year and will continue to invest both in the UK and internationally to deliver the significant growth opportunities for Trainline in the year ahead.”
Today’s update, which charts the company’s financial performance to the end of November, saw Trainline reconfirm expectations for the full year.
Read more: Trainline increases revenue expectations as sales soar
Those include an increase in net ticket sales close to 20 per cent, despite the French strike action. And Trainline has also forecast group revenue to grow by 20 to 25 per cent.
The costs of Trainline’s initial public offering (IPO) in June knocked the tech firm into a post-tax £89m loss after its half-year but it credited a rise in mobile demand for its fast pace of growth.