StockMarketWire.com - Train and bus ticketing platform Trainline posted a deeper first-half loss, largely owing to costs associated with its initial public offering that offset a rise in sales.

Pre-tax losses for the six months through August amounted to £87.5m, compared to losses of £11.1m on-year.

Revenue rose 29% to £129.0m amid a 19% rise in net ticket sales.

Adjusted Ebitda roughly doubled to £42.0m.

Trainline reaffirmed its recently-upgraded guidance for the full year of net ticket sales growth in the high-teens percentage and revenue grow in the low to mid-20% range.

The company did not declare an interim dividend.

'We are pleased to have achieved strong growth in the first half of our financial year and to have made good progress against our strategic priorities,' chief executive Clare Gilmartin said.

'This includes enhancing our user experience and championing mobile, which in turn accelerated the ongoing shift of customers from offline to online.'

'We continue to focus on making rail and coach travel easier for customers worldwide, thereby encouraging a much greener way to travel.'

'As most rail and coach tickets continue to be sold offline at the station, and as customers and governments commit to more environmentally friendly modes of travel, we see significant growth opportunities for Trainline over the long term.'




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