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Trainline outlines collapse in ticket sales as travel restrictions bite

By BFN News | 07:58 AM | Thursday 17 September, 2020


Travel ticketing company Trainline's revenue collapsed in the first half of the year amid the UK government's lockdown measures, it said in a trading update this morning. Total group revenue was down 76%. However, due to outperformance on cost savings, earnings before interest, tax, depreciation and amortisation are expected to register a loss of £14-19m, an improvement on prior guidance. Passenger volumes fell to just 5% of the same period in the prior year through April and May, with similar declines across international markets. Q1 net sales declined to £79m, equivalent to 9% of the same period in the prior year. Net ticket sales recovered slightly in Q2 to £280m, equivalent to 30% of the same period in the prior year, as lockdowns and social distancing measures were relaxed. Half year results are expected to be published on 5 November. Story provided by StockMarketWire.com

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