Trainline shares slump after profit slips on watchdog probe
Trainline’s profit slipped in the first half of the year after the ticket retailer was dragged down by a charge linked to an investigation from the UK competition watchdog. The rail ticketing platform recorded a £4m hit to its bottom line, which will cover legal fees and potential liabilities, following the Competition and Markets Authority [...]
Trainline's profit fell in the first half of the year due to a charge related to an investigation from the UK competition watchdog, which resulted in a £4m hit to the company's bottom line. This includes legal fees and potential liabilities, following a probe by the Competition and Markets Authority (CMA). The watchdog launched the formal inquiry in August using new consumer protection powers introduced in 2025.
The probe examines whether Trainline's presentation of mandatory booking fees violates transparency rules. The company acknowledged that the investigation is in its early stages and that many variables could affect the possible outcome, making it difficult to quantify any potential financial impact. Trainline's pre-tax profit dropped to £55.2m, down from £66.2m in the same period last year, while group revenue declined by one per cent to £233m.
The decrease in revenue was primarily due to headwinds from UK rail fare reforms, such as the government's decision to freeze regulated fares and changes to refund rules introduced in April 2026 that sharply reduced ticket refund transactions.
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