Trainline (LSE: TRN) shares surged over 8% this morning after the train ticket app reported better-than-expected annual revenue and profit, alongside a new share buyback program.
The company revealed net ticket sales hitting the top end of its guidance, reaching £5.30 billion, a 22% year-on-year increase. Annual revenue climbed 21% to £396.7 million, exceeding previous forecasts. Pretax profit more than doubled to £48.1 million.
Trainline also announced a £75 million share buyback program, following a recent £50 million buyback completion.
Looking ahead, the company predicts net ticket sales growth of 8%-12% and revenue to rise between 7%-11% for the new financial year.
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