European expansion will be the key driver for ticket group Trainline PLC (LSE:TRN), which said its revenues would be at the top end of already-upgraded guidance.
That, at least, is the conclusion of Shore Capital in the wake of the Thursday update, which revealed total group sales increased by 22% to £5.3 billion, against the improved guidance range of 17% to 22%.
International ticketing grew by 14% to £1 billion, while UK sales jumped by 23% to £3.5 billion.
Group revenue, the amount the company makes providing the ticketing service, reached £397 million, well above forecast.
"We view the expansion within Europe, and incoming international travel as key drivers for further valuation accretion, and therefore remain encouraged by progress made in these areas during the financial year 2024," said Shore, repeating its 'buy' advice.
In late morning trading the stock was up 40.4p at 367.6p.