By Anthony O. Goriainoff
Trainline said revenue rose for the first half of fiscal 2024, driven by a 23% rise in net ticket sales, and that it is launching a share buyback program of up to 50 million pounds ($62.4 million) over the next 12 months.
The U.K. company–which runs a digital platform for buying rail and bus tickets–said Thursday that for the six months ended Aug. 31 revenue rose to GBP197 million from GBP165 million the year before.
Net ticket sales rose to GBP2.65 billion from GBP2.16 billion. The company said U.K. consumer net ticket sales rose 19% to GBP1.7 billion, reflecting the increase in people switching to digital ticketing.
Growth was slightly tempered by the 11 days of industrial action in the country, which had an estimated gross ticket sales impact of GBP5 million to GBP6 million each strike day, Trainline said.
The company backed its guidance fiscal 2024 of on-year net ticket sales growth of between 13% and 22%, and on-year revenue growth of between 13% and 22%.
Write to Anthony O. Goriainoff at [email protected]
Read the full article here