Trainline Reports Strong Revenue Growth in H1 2024
Trainline, the U.K.-based digital platform for purchasing rail and bus tickets, reports significant revenue growth in H1 2024, with net ticket sales increasing by 23%.
Trainline, the U.K.-based digital platform for purchasing rail and bus tickets, has announced impressive revenue growth for the first half of fiscal 2024. The company's net ticket sales increased by 23%, contributing to a revenue rise from GBP165 million to GBP197 million compared to the previous year.
With net ticket sales reaching GBP2.65 billion, an increase from GBP2.16 billion, Trainline attributes this growth to the rising popularity of digital ticketing, with U.K. consumer net ticket sales alone climbing by 19% to GBP1.7 billion.
Despite facing a minor setback due to the 11 days of industrial action in the country, which impacted gross ticket sales by an estimated GBP5 million to GBP6 million per strike day, Trainline remains confident in achieving its fiscal 2024 guidance. The company expects year-on-year net ticket sales growth and revenue growth to range between 13% and 22%.
To further support its growth trajectory, Trainline has also announced the launch of a share buyback program worth up to GBP50 million ($62.4 million) within the next 12 months.
Trainline's solid performance in H1 2024 highlights its position as a leading player in the digital ticketing market, while its strategic initiatives demonstrate its commitment to enhancing shareholder value and delivering a seamless customer experience.