Rail ticketing app Trainline has upgraded its annual profit forecast on the back of a strong performance in the first half of its financial year.
Overall net ticket sales rose by 14% to £3 billion year-on-year in the six months to August 31. The growth was ahead of previous guidance of between 8% to 12%.
Group revenue grew by 17% to £229 million, also above previous guidance of between 7% to 11%.
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Increased continental rail competition drives Trainline growth
The company said: “Given the strength of performance in the first half, for the full year Trainline expects net ticket sales and revenue growth at the top end of their respective guidance ranges. Adjusted ebitda is now expected to exceed the previously stated guidance range.”
The firm’s B2B arm Trainline Solutions saw ticket sales rise by 19% in the first half to £449 million with revenue up by 14% to £90 million.
The company said in a trading statement: “White label carrier sales performed strongly given fewer strike days and following improvements to core functionality.”
Chief executive Jody Ford said: “As Europe’s number one rail app, our strong performance shows how our relentless focus on innovation is helping more customers to choose digital ticketing.
“Competition between rail carriers is growing across Europe and as the aggregator of choice we deliver the value and convenience customers want.
“This is most clearly demonstrated in Spain, where we have tripled net ticket sales in the last two years, with over one million customers transacting in the last 12 months alone.”