It was a case of full steam ahead for Trainline this morning after the company published its full year results. Whilst the rampant pace of sales growth from the last two years may be abating somewhat, wider adoption of e-tickets for train travel, plus competition amongst operators especially in mainland Europe is continuing to build momentum. Net ticket sales rose 23% last year, which is shadow of the FY23 post-pandemic growth but even with the outlook for FY25 being an uptick of just 8-12%, investors were clearly convinced. Shares sat around 7% higher in early trade.
A trading update from AIM-listed chartered surveyors Fletcher King received a warm reception from the market, with news that full year profits were likely to be two to three times higher than the figure posted last year lending support. That shakes off the air of caution expressed by directors earlier in the year. Shares were up around 25% less than an hour into the day.
The global hotel operator and owner of brands including Holiday Inn and Crowne Plaza issued a Q1 trading update this morning. That presented something of a mixed bag with revenues up but falling short of expectations. The company is also making some adjustments to its loyalty program, acknowledging the ability for this to generate ancillary revenues for the business, a trend that could be worth watching across the broader travel and leisure sector. Shares were down by more than 2% at the open but have since recovered around half of those losses.
Headlines we expect on Tuesday
BP Trading update
This time last year Replacement Cost profit $8.67bn, Announced dividend 6.61cents, $1.75bn share buyback announced
