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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
61% of retail CFD accounts lose money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Trainline Holds Guidance as Europe Turns Profitable
Trainline held its full-year guidance as its European consumer arm turned profitable for the first time, lifting first-half adjusted EBITDA 7% even as revenue slipped 1% and UK consumer revenue fell.
Trainline (LSE: TRN) kept its full-year guidance after first-half adjusted EBITDA rose 7% to £100m, even though revenue slipped 1% to £233m. The rail and coach ticketing platform reported results for the six months to 31 August at 7am today.
The shares closed at 213p yesterday and have yet to trade on the figures. The chart below shows the last five sessions.
TRN.LSE
Net ticket sales were broadly flat at £3,263m, against £3,250m in the first half of FY2026. Revenue fell from £235m, which management expected because of the April 2026 change to refund rules. Adjusted earnings per share rose 10% to 13.8p from 12.6p.
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The profit came from Europe and cost control. International Consumer swung from an £8m adjusted EBITDA loss to a £6m profit, helped by marketing spend cut 36% to £25m. UK Consumer adjusted EBITDA fell 9% to £46m, on revenue down 5% to £102m, and Trainline Solutions fell 7% to £48m. Operating profit slipped 5% to £64m from £68m.
Trainline’s first-half revenue, adjusted EBITDA and operating profit, £m. Source: Trainline results, 4 November 2026.
Guidance for FY2027 is unchanged: net ticket sales of £6.2bn to £6.45bn, underlying revenue of £440m to £455m and adjusted EBITDA of about 2.9% of net ticket sales. International Consumer should stay above breakeven.
“Those strengths showed in the first half, despite multiple headwinds, and today we are reconfirming our full-year guidance.”
Ian Brown, chief executive
A £100m buyback is under way, with £6m bought by the 31st of October. Net debt, though, rose to £212m from £170m in February.
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The swing factors are regulatory. The Competition and Markets Authority opened an investigation on the 19th of August into how fees are presented, costing £4m so far, and Trainline cannot quantify the outcome. Mr Brown said the draft retail code from the Office of Rail and Road (ORR) “needs further strengthening”. Transport for London’s Project Oval puts about £150m of annualised UK net ticket sales at risk.
The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.
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