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On The Beach reaffirms outlook as profits, sales rise
(Sharecast News) - On The Beach Group reaffirmed guidance on Tuesday, sending shares sharply higher, after the package tour operator posted a jump in full-year profits and sales. The online specialist - which warned in September it would miss profit expectations - said revenues rose 6% in the year to 30 September, to £121.4m.
Total transaction value (TTV) spiked 11% at £1.25bn, a record, while adjusted pre-tax profits came in 20% higher at £35m.
The group said it had seen solid demand for package travel, with overseas leisure travel spending also continuing to grow year-on-year.
Growth across three, four and five-star bookings further supported revenues, with a 20% increase in 5-star TTV.
A total of 1.7m customers booked beach holidays and city breaks through On The Beach during the period, with the former the biggest contributor to TTV growth.
Shaun Morton, chief executive, said: "As anticipated, we achieved our biggest summer to date as customers continued to prioritise their summer holidays.
"Our strategic expansion areas, including city breaks and holidays for customers from the Republic of Ireland, continue to build momentum, already contributing 8% of the 2025 booking mix, while the recent launch of Cruise complements our offering."
In September, On The Beach warned that hard-pressed consumers were delaying spending on holidays, leaving it unlikely to meet consensus for adjusted pre-tax profits of £38.4m.
However, looking to current trading, and the company said on Tuesday that year-to-date TTV was up 16%, and bookings 14%.
As a result, it was "confident" about delivering adjusted pre-tax profits in the current year in line with expectations, of between £39m and £43m.
It also reiterated medium-term ambitions of TTV of £2.5bn and adjusted pre-tax profits of £85m.
As at 0815 GMT, shares had soared 12% at £216.5p.
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