Trainline sees FY earnings at upper end as sales rise 8%

(Sharecast News) - Online ticketing platform Trainline said it expected full-year earnings to be at the upper end of guidance after an 8% jump in interim sales driven by strong traffic in the UK and Europe and also unveiled a £150m share buyback. The company now expects adjusted core profits to grow at the top end of its previous guidance range of between 6% and 9%.

UK consumer net ticket sales for the six months to August 31 were 8% higher at £2.1bn, while the international business grew 2% to £594m as Trainline focused investment on European high-speed routes with emerging carrier competition.

In Southeast France, increased carrier competition between Paris, Lyon and Marseille drove second quarter sales growth of 34% driven by Trenitalia expanding its services in the region.

"Rail liberalisation in Europe continues to demonstrate the value Trainline brings as the preeminent domestic aggregator," said chief executive Jody Ford.

Reporting by Frank Prenesti for Sharecast.com