Profit boost for Holidaybreak
HOLIDAYBREAK has reported its first interim operating profit as hotel breaks and adventure holidays begin to dominate group sales.
In the six months to March 31, the group wiped out a £2.4 million loss over the same period last year to post a £0.4 million operating profit. Turnover rose 12% to £79.8 million. Both figures exclude Dutch on-line operation Bookit and adventure holiday specialist Djoser, which Holidaybreak acquired in December.
The profit is much to do with the changing structure of the business with hotel breaks and adventure holiday now accounting for 66% of sales. Traditionally, management report a loss making first six months due to the seasonal nature of its camping business, the group’s one-time core product.
“Camping, while both popular and profitable, now represents approximately a third of group sales,” a statement from Holidaybreak chairman Robert Ayling said. “As hotel breaks and adventure grow, this share is expected to fall further.”
Sales in its camping division, which includes Eurocamp and Keycamp, are down 9% on 2004, largely in line with capacity reductions of 11% for mobile homes with 14% fewer tents.
“Costs will be subject to further rigorous review,” the chairman’s statement added.
Hotel breaks represent the largest division with sales rising 9% to £59.9 million and operating profit, including Bookit, up 28% to £7.6 million. Current sales are 6% up on last year.
Ayling revealed however that demand for UK short breaks was slow after two bumper years although demand for European breaks and London theatre packages remained high.
Bookit, meanwhile, was performing “ahead of management expectations”.
The adventure division, which includes Explore and RegalDive, saw sales rise almost 50% with like for like current sales, excluding Djoser, 20% higher than 2004.
Ayling said the Boxing Day Tsunami did not have any material affect.
Report by Steve Jones
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