Great Western Coffee Shop

RAIL union RMT exposed the destructive practices of “profiteering machine” Trainline today as the firm reported a double-digit growth in revenues.

The travel booking website reported that ticket sales in the six months to August 31 had jumped by 14 per cent to £3 billion, which boosted revenues by 17 per cent to £229 million.

Before the announcement, RMT had surveyed 2,600 rail workers about the firm, uncovering numerous problems such as bogus tickets, excessive pricing and confusing fare options.

More than 90 per cent of the respondents reported that the firm failed to provide passengers with the best value fare and sells tickets that are invalid for the intended journeys, forcing many customers to pay again or face penalties.

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The company insisted that “this RMT attack is riddled with errors,” adding that it was continuing to invest in new technology and working in partnership with the government to make rail travel easier.

Despite reporting that it had doubled its pre-tax profits to £46.5m, Trainline announced plans yesterday to cut its workforce.
The company did not reveal how many jobs would be lost in a drive to slash costs by £1m.

Online ticketing platform Trainline has revealed plans to cut its workforce as it looks to slash costs despite forecasting better-than-expected annual sales.

The group revealed in its half year results that it is pressing ahead with plans over the next six months to make annual cash savings of around £12 million, which will see roles axed.

It did not reveal how many roles will be cut, or where the jobs will go.

Trainline said: “In the second half, we are running a cost optimisation exercise, which includes reducing headcount.

“We expect the exercise to generate annual cash savings of around £12 million, of which £8 million will benefit the income statement.”

The cost savings plan comes in spite of Trainline upping its full-year revenue guidance after reporting a more than doubling of pre-tax profits to £46.5 million for the six months to August 31.

It said it is now forecasting for revenue growth of between 11% and 13% over 2024-25, up from a previous range of 7% to 11%.

The firm saw net ticket sales jump to £3 billion in the first half from £2.65 billion a year ago.

It also raised its full-year net ticket growth guidance to between 12% to 14%, from a previous range of 8%-12%.

Rather tongue in cheek, I wonder how many of those Trainline staff are members of the RMT?  ::)