Trainline has appointed the former head of Flutter UK and Ireland as its new CEO, leading to a drop in the company's share price as analysts evaluate the change in leadership.

Trainline, a ticketing retailer, announced a jump in profits to £122 million but anticipates flat or declining revenues in the coming year, attributing the impact to US-Iran tensions affecting rail ticket sales to foreign visitors.

The departing head of Trainline has increased his stake in the company, a move that comes amidst uncertainty surrounding the planned launch of a government-backed app.