Trainline reports recovery in profits and sales to pre-Covid levels

4th May 2023 10:36

(Sharecast News) - Trainline saw sales and profits recover to above their pre-Covid levels, driven by the rebound in UK Consumer and International Consumer net ticket sales.

For the full-year ending on 28 February, the rail and coach technology platform said that net ticket sales jumped by 72%, for a 74% jump in revenues to £327m.

The latter were 25% above their 2020 financial year level.

In particular, the company highlighted the four-fold increase in net ticket sales in Spain against the pre-Covid level as routes were liberalised.

It also reported a near doubling in foreign travel sales with especially strong growth in those to inbound US customers.

Adjusted earnings before interest, taxes, depreciation and amortisation meanwhile were ahead by 121% to £86m and by 1% on the FY 2020 level.

Adjusted basic profit per share rose from -0.8p for the year before to 7.7p, although they remained 0.3p below the pre-Covid mark.

As of 1119 BST, shares of Trainline were ahead by 14.14% to 273.0p.