Trainline said it has delivered a "robust" first half, as its group net ticket sales remained flat year-on-year at £3.3bn in the six months to 31 August.

The rail and coach travel platform reported that in this period, its underlying revenue totalled £233m, dropping by 1% annually.

UK consumer net ticket sales also remained flat at £2.1bn, which it said was supported by strong underlying rail demand, and a lower level of ticket refunds following a change in the industry refund policy in April.

This was partially offset by the impact of the regulated fare freeze, additional disruptions in the period from hot weather TfL strikes.

As part of the update, Trainline said that it is proactively engaged with the CMA in relation to its ongoing investigation on fees presentation.

CEO at Trainline, Jody Ford, stated: "We delivered a robust first half, with customers choosing and returning to Trainline for the value and features we offer, against a backdrop of resilient underlying demand for UK rail travel. 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.”

Trainline’s current share buyback programme is expected to complete on 11 September, and since its first scheme in 2023, it has repurchased and cancelled £350m of ordinary shares.

It has today announced a new share buyback programme of up to £100m, and the new programme will commence upon completion of the existing programme and is set to run over the subsequent 12-month period.

In its outlook, the platform has reconfirmed its group sales guidance for the full year, expecting to reach between £6.2bn and £6.45bn. Its underlying revenue is also set to reach between £440m and £455m.

Following the update, shares in Trainline jumped by over 2%.

Investment director at AJ Bell, Russ Mould, concluded: "Having been derailed last month by news of a probe by the competition authorities, Trainline shares got back on track following its latest trading update. Today’s statement confirmed the company is engaging with the regulator and also confirmed full-year guidance. The unveiling of a new share buyback is a display of confidence in its prospects and may reassure some investors that the worst-case scenario from this regulatory intervention won’t come to pass.

"The main negative was that ticket sales stalled in August which Trainline blamed on heat waves, TfL strikes and the government freeze on fares. The company is at a fork in the tracks as CEO Jody Ford prepares to step down at the end of this month to be replaced by Ian Brown.

"Trainline is under scrutiny for ‘drip pricing’ where a lower headline price is advertised but mandatory fees are dripped like water from a leaky tap into the price you pay at checkout. Specifically, Trainline’s practice of not showing its booking fees up top has created concern."

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