Trainline PLC (LON: TRN) have given shareholders a positive update saying that they are keeping their annual guidance.
Trainline saw their shares dip at the start of December, as Jeremy Corbyn and the Labour party announced travel policies to rival Trainline.
The Daily Mail reported that the Labour government would would create a ‘one-stop shop’ for rail passengers to buy tickets online without booking fees, the Mail reported without citing its sources.
This came as part of Labour’s business and travel policy where it was also mentioned that it had intentions to nationalize BT (LON: BT.A) in an attempt to win voters.
However, looking back now knowing the election result it seemed that neither of these policies won voters.
Today, Trainline reiterated their annual guidance as the firm continued to deliver strong growth in ticket sales and revenue.
Within the nine months to November 30, Trainline’s climbed 26% to £198 million, with UK revenue up 22% to £178 million and International rising 90% to £20 million.
Revenue from the UK consumer segment climbed 31% to £133 million, though Trainline for Business revenue in the UK was flat at £45 million.
Trainline did note there was a slowdown in the third quarter of its year as large corporations cut discretionary travel spending.
Trainline offers a rail and coach ticket purchase platform saw net ticket sales of £2.86 billion within the none months, seeing an 18% climb year on year.
In the UK, net ticket sales were up 14% to £2.47 billion, with International climbing 49% to £390 million.
UK consumer net ticket sales rose 24% to £1.54 billion, with business sales rising 2% to £930 million.
Trainline praised the development of online ticket sale growth driven by demand from mobile users, as customer shift from paper to e-tickets.
Chief Executive Clare Gilmartin said: “We continued to deliver strong growth in the third quarter of the financial year while we focus on our mission to make rail and coach travel easier for customers worldwide, encouraging a much greener way to travel.
“We are on track to deliver our plans for the full year and will continue to invest both in the UK and internationally to deliver the significant growth opportunities for Trainline in the year ahead.”
Trainline remained optimistic for its guidance encompassing its financial year, which ends in February.
Trainline are now performing well in a market which is appearing to be in a period of tough market trading, as evidenced by rival FirstGroup who saw their shares in red as the firm considered selling their North American operations yesterday.
Shares of Trainline trade at 507p (-0.59%). 17/12/19 11:38BST.
