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May 6, 2021, 2:39 a.m. EDT

Trainline full-year pretax loss widens

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By Anthony O. Goriainoff

Trainline PLC said Thursday that pretax loss widened for fiscal 2021 as revenue fell due to the effect of the pandemic and that it has seen positive signs of recovery as U.K. net ticket sales increased in the first quarter of fiscal 2022.

The U.K. company, which runs a digital platform for buying rail and bus tickets, said that for the year ended Feb. 28 its pretax loss was 91.3 million pounds ($127 million ) compared with a loss of GBP80.9 million for fiscal 2020.

Revenue fell to GBP67.1 million from GBP260.8 million the year before.

Net ticket sales--a key metric for the company--were GBP783.1 million compared with GBP3.73 billion a year earlier.

"As we enter fiscal 2022 we are seeing the first signs of recovery, with net ticket sales increasing as lockdowns ease and as non-essential travel returns, particularly in the U.K.," Chief Executive Jody Ford said.

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