The pan-European train ticketing platform issued full year results this morning which painted a picture of strong growth but a more cautious outlook. Net ticket sales were 7% higher, revenues added 2% and the company sees the expansion of competing rail operators in Europe as being a key driver, including achieving break even of the continental consumer division. However there’s concern that the ongoing situation in the Middle East could limit demand and the outlook for FY27 is for headline prints to be largely similar, although a modest uptick in EBITDA as a percentage of ticket sales is expected to be seen. The Trainline share price fell more than 6% in early trade.
Brewer and distiller Diageo published its Q3 trading statement this morning with the company posting growth in most territories although weakness was seen in North America. Markets had been expecting to see revenues off by 2.3% but the company posted a 0.3% uptick, with many seeing this as an early win for the new CEO. Increased stockpiling by distributors ahead of the World Cup is cited in the note as a factor but regardless of the success posted, the full year outlook remains unchanged. The Diageo share price was 4% higher shortly after the open.
Publishing group Reach issued a Q1 trading update this morning, noting a negative impact from the continued disruption in search and referral volumes, continuing a pattern the company first flagged last summer. Group revenues fell by 6.9% and whilst on-platform audiences are showing signs of stabilising, caution continues in terms of digital revenues. Full year guidance remains on track and cost saving measures are in play but the Reach share price was still 8% lower by 8.45am.
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