Trainline announces GBP100 million share buyback as hails rail demand

Trainline PLC on Friday reported a resilient first-half trading performance as it reiterated its full-year guidance and announced a new share buyback programme.

The London-based rail and coach travel platform said group net ticket sales were broadly flat year-on-year at £3.26 billion in the six months to August 31, while underlying revenue slipped 0.9% to £233 million from £235 million.

The firm said UK rail demand remained resilient despite disruption from hot weather, strikes and a regulated fare freeze.

Trainline reconfirmed guidance for financial 2027 net ticket sales of £6.20 billion to £6.45 billion, underlying revenue of £440 million to £455 million, and adjusted earnings before interest, tax, depreciation and amortisation as a percentage of net ticket sales of around 2.9%, the latter which Trainline expects to slightly beat.

For financial 2026, Trainline had reported net ticket sales of £6.32 billion and revenue of £453 million.

Trainline on Friday also said it expects its International Consumer business to achieve breakeven this year.

Outgoing Chief Executive Officer Jody Ford said: "The industry is moving through an important period of change and Trainline is well positioned, with real scale in the UK and across Europe, deep customer loyalty, and over three million customers now holding a digital railcard in our app."

On September 28, Ford will be succeeded as CEO by Ian Brown, who joined the company on Monday.

Trainline announced a new £100 million share repurchase programme, which due to begin after completion of its existing £150 million buyback on Friday run over the next 12 months in two tranches.

Since launching share buybacks in 2023, the company has repurchased and cancelled £350 million of shares, representing around 28% of its issued share capital, it noted.

Trainline will publish half-year results on November 4.

Trainline shares were up 1.5% to 192.85 pence each on Friday morning in London.

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