UK sales boost Trainline revenues

Trainline has reported a 26% jump in revenues for the past nine months as the rail booking platform continued to see a rapid rise in UK ticket sales.

The company, which floated on the London Stock Exchange earlier this year, saw revenues jump to £198 million for the nine months to November 30, from £157m a year earlier.

It said it is on track to hit its performance targets for the full year following “strong progress” so far in 2019.

Group ticket sales increased by 18% to £2.9 billion during the three quarters, driven by strength in its UK consumer business.

UK consumer ticket sales increased by 24% to £1.5bn, which the firm said reflected “strong mobile demand” due to increased eticket availability and adoption by more users.

As a result, revenues for the UK consumer business jumped 31% to £133m for the period.

It said new customer acquisition continued to underpin growth, although this was partly offset by the recent strike action in France.

The company said it expects net ticket sales growth to be in the high teens for the full-year, with “some impact from French strike action expected in the near term”.

Clare Gilmartin, chief executive of Trainline, said: “We continued to deliver strong growth in the third quarter of the financial year.

“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.”

Picture: PA. Trainline is on track to hit performance targets.