Shares in Trainline (LON: TRN) climbed on Friday after the rail and coach ticketing platform confirmed a “robust” first-half trading performance and announced a fresh £100 million share buyback programme.
The stock opened at 203p and rose as high as 208p so far in the session, up from a previous close of 190p. Trading volumes were elevated as investors digested the update.
In its trading statement covering the six months to 31 August 2026, Trainline reported group net ticket sales of £3.3 billion, broadly flat year-on-year, while underlying revenue slipped 1% to £233 million.
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UK Consumer ticket sales held steady, supported by resilient rail demand, though underlying revenue there fell 5% on lower refund fee income following an industry policy change. International Consumer sales fell 4%, hit by one-off disruption including the aftermath of rail accidents in Spain and Middle East-related travel softness. Trainline Solutions was the standout, with net ticket sales up 3%.
Management reconfirmed full-year guidance, including net ticket sales of £6.2 billion to £6.45 billion and Adjusted EBITDA margin of around 2.9% of net ticket sales.
The announcement of the new buyback, to follow completion of the existing programme, appeared to reassure investors already weighing an ongoing Competition and Markets Authority investigation into fee presentation. Trainline said it was “proactively engaged” with the regulator. Half-year results are due on 4 November.
