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Trainline PLC on Thursday reported annual revenue and profit growth, and the rail ticketing platform is looking to the future with confidence as it plots being the ‘aggregator of choice in Europe’. Shares in the company surged 13% to 271.08 pence each in London on Thursday morning, by far the best FTSE 250 performer. Trainline said revenue in the year ended February 28 rose 74% to £327.1 million, from £188.5 million. It swung to a pretax profit of £22.1 million from a £15.5 million loss the year prior. Net ticket sales totalled £4.32 billion, rising 72% from £2.52 billion the year prior, and 16% from pre-virus levels. ‘Trainline is building great momentum, delivering a record operating performance this year, selling [around] 200 million train tickets across Europe, and expecting further strong growth in the year ahead,’ Chief Executive Officer Jody Ford said. ‘With the arrival of carrier competition in Europe, we are positioning ourselves as the aggregator of choice and this has helped International Consumer become a €1 billion net ticket sales business. Our footprint expansion is particularly evident in Spain, where our sales are now four times higher than before market liberalisation.’ By segment, UK Consumer revenue rose 58% to £172 million, with net ticket sales up 55%. International Consumer revenue grew more than three-fold to £45 million, with net ticket sales more than doubling. In the Trainline Solutions rail platform technology arm, serving rail carriers, travel sellers and businesses, revenue surged 66% to £110 million. Looking to the new financial year, Trainline expects both revenue and net ticket sales to grow between 13% to 22%. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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