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Leisure, gaming and gambling

Trainline on track to hit raised full-year targets

Trainline PLC (LSE:TRN, FRA:2T9A) revealed it is on track to hit its full-year targets, though growth slowed slightly in the second half of its financial year to 28 February.

In a post-close trading update, the digital ticketing group said net ticket sales increased 7% to £6.3 billion, with revenue up 2% to £453 million. This compares to 8% and 2% ticket and revenue growth at the half-year stage.

UK Consumer net ticket sales rose 6% to £4.1 billion, though revenue dipped 2% to £204 million, largely due to a previously announced commission rate cut from 5% to 4.5% last April.

International Consumer was a bright spot, with revenue up 12% to £60 million, boosted by strong growth in South-East France, where sales jumped 26% following Trenitalia's expansion of services in the region.

Adjusted earnings (EBITDA) are expected to grow between 10% and 13%, in line with previously raised expectations.

CEO Jody Ford, whose gave notice of his departure last month, called it a "robust trading performance" and hailed strong cash generation.

"In the UK, we focused on deepening and strengthening engagement across our 18 million customers, supported by the expansion of our digital railcard base. This helped mitigate the impact of rail operators promoting features on their own online channels that we are not permitted to offer.

"In Europe, we are benefiting from new carrier competition - including in South-East France, where we grew 26%. Foreign travel to the continent bounced back in H2, highlighting our growing ability to capture new AI traffic."

Full-year results are due on 6th May.

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