Trainline revenue ‘broadly flat’ amid slowdown in corporate spend

Trainline revenue ‘broadly flat’ amid slowdown in corporate spend

UK consumer net ticket sales up 24% to £1.5bn, amid strong mobile demand

Online rail and coach ticket platform Trainline reported an autumn slowdown in business travel spend by large companies.

Net ticket sales for its UK Trainline for Business arm edged up by 2% to £930 million in the nine months to November 30.

However, the company said it “observed some slowdown in the most recent quarter in discretionary travel spend by large corporations”.

MoreTrainline valued at £1.7bn with London IPO

This meant that revenue in the year to date for the division was “broadly flat” at £45 million over the same period last year.

Trainline also expects “some impact” from French public sector strike action affecting rail service in the near term.

Total net ticket sales rose by 18% year-on-year to almost £2.9 billion with overall revenue up by 26% to £198 million in the nine months.

UK consumer net ticket sales increased 24% to £1.5 billion, reflecting strong mobile demand driven by increasing e-ticket availability and adoption by customers, the company said.

International net ticket sales increased by 49% to £390 million “with new customer acquisition continuing to underpin growth, partly offset by the impact of strikes in France in the most recent quarter”.

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.”