ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

OTB On The Beach Group Plc

154.80
1.40 (0.91%)
Last Updated: 13:03:21
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
On The Beach Group Plc LSE:OTB London Ordinary Share GB00BYM1K758 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.40 0.91% 154.80 154.80 155.60 156.00 150.00 150.00 100,121 13:03:21
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Travel Agencies 170.2M 10.1M 0.0606 25.61 258.63M

On the Beach Group PLC AGM Trading Update

26/01/2024 7:00am

RNS Regulatory News


RNS Number : 0408B
On the Beach Group PLC
26 January 2024
 

26 January 2024

On the Beach Group plc

("On the Beach" or the "Group")

 

AGM Trading Update

 

On the Beach Group plc (LSE: OTB.L) issues the following year to date trading update (FY24), in advance of its Annual General Meeting to be held later today.

Following its best ever summer, the Group began FY24 with a record forward order book and significant momentum. This has continued into the peak booking period with FY24 TTV1 27% ahead of the equivalent period in FY23.

On the Beach continues to invest in its proposition, brand and platform to differentiate its offer, powering year on year growth across core and expansion areas, with B2C 3*, 5* and long haul each delivering year to date growth. B2C 3* TTV is +8%, B2C 5* TTV is +41% and B2C long haul TTV is +86% versus the equivalent period in FY23.

The Group has taken the opportunity to price competitively and focus on volume growth to capture share in a growing market, and remains confident in delivering FY24 profit in line with current market expectations2.

Shaun Morton, Chief Executive of On the Beach Group plc, commented:

"I am pleased to report that the momentum we experienced throughout last year has continued into this new financial year, with significant TTV growth across our core and expansion areas. We believe this is due to a combination of realising our investments across our proprietary platform, brand and customer proposition and consumers continuing to prioritise holidays, viewing it as non-discretionary expenditure.

"Winter '23 TTV is currently 34% ahead of the prior year and current trends continue to give the Board confidence that Summer '24 will be significantly ahead of Summer '23."

1 TTV: the total transaction value of holidays sold during the period up to and including 24 January 2024, before cancellations and amendments.

2 Based on company compiled consensus ("Consensus") from ten contributing analysts. Consensus FY24E Adjusted PBT is £30.0m.

 

For further information: 

 

On the Beach Group plc

Shaun Morton, Chief Executive Officer

Jon Wormald, Chief Financial Officer

 

via FTI Consulting

FTI Consulting

Alex Beagley

Fiona Walker

Harriet Jackson

Hannah Butler

Tel: +44 (0)20 3727 1000

onthebeach@fticonsulting.com

 

About On the Beach

 

On the Beach Group plc is one of the UK's largest online beach holidays retailers, with significant opportunities for growth. Its innovative technology, low-cost base and strong customer-value proposition provides a structural challenge to legacy tour operators and online travel agents, as it continues disrupting the online retail of beach holidays. Its model is customer-centric, asset light, profitable and cash generative.

 

Cautionary statement

 

This announcement may contain certain forward-looking statements with respect to the financial condition, results, operations and businesses of the Group. Forward looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'will', 'could', 'may', 'should', 'expects', 'believes', 'intends', 'plans', 'targets', 'goal' or 'estimates'. These forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements, including factors outside the Group's control. The forward-looking statements reflect the knowledge and information available at the date of preparation of this announcement and will not be updated during the year.

www.onthebeachgroupplc.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTGUGDBSUDDGSL

1 Year On The Beach Chart

1 Year On The Beach Chart

1 Month On The Beach Chart

1 Month On The Beach Chart

Your Recent History

Delayed Upgrade Clock