Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. On-track performance from Trainline but sales momentum slowing
Full year numbers are out from Trainline LON:TRN this morning, with net ticket sales up 22% and a doubling of the operating profit. Growing use of e-tickets across the rail industry is evidently driving the business forward, whilst carrier competition in continental Europe is also serving to bolster sales.
The CEO notes that domestic ticket sales in Spain have doubled for a second year running, whilst the company also continues to gain market share. Ticket sales growth this year is set to be between 8% and 12% which is moderating from the recent pace of gains, with expansion of contactless Transport for London travel in the UK noted as one source of headwinds.
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#2. IHG rates & occupancy up, Japan outperforms
Intercontinental Hotels Group LON:IHG has published Q1 numbers this morning, noting global RevPAR (revenue per available room) up by 2.6%, average daily room rates up by 2.3% and occupancy up by 0.2%. Outperformance was noted in the EMEAA regions, with RevPAR in Japan up by as much as 17%, reflecting the slower rebound seen in that market. The group now has 946,000 bedrooms at its properties worldwide and has a pipeline which will see a further 305,000 rooms added.
#3. Market conditions improving for Mondi
Mondi LON:MNDI issued its Q1 numbers this morning as well, with market conditions continuing to improve. Underlying EBITDA was in line with expectations although it seems to be volume rather than price which proved to be the driving factor. Management are positive that the momentum generated at the start of the year will now continue to build.
