On the Beach predicts strong lates market
On the Beach is predicting a strong lates market for this summer as consumer confidence grows.
Announcing the group’s interim results to the end of March, chief executive Simon Cooper said: "In the absence of any future negative market events, we anticipate stronger consumer confidence in the second half of the financial year, buoyed by a strong lates market, and are on track to meet our expectations for the full year."
He said the terrorist attacks in Paris and November had created ‘uncertainty and volatility’ in the holiday market, but said the group has adapted to changes.
Cooper said the company had focused on adding supply in the Western Mediterranean, enhancing margin, delivering operational efficiencies and ‘retaining an efficient level of spend in driving demand to site’.
Revenue for the six month period increased 21.6% to £35.5m, while operating profit, before amortisation and exceptional costs, was up 35.5% to £10.3m.
Adjusted underlying profit before tax was up 53.2% to £9.5m.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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