On the Beach grows revenue home and away
On The Beach Group
153.40p
16:40 19/04/24
Online travel agency On the Beach grew pre-tax profits by a third in the 12 months to 30 September, as revenues improved in the UK and abroad.
FTSE All-Share
4,296.41
17:08 19/04/24
FTSE Small Cap
6,331.12
17:04 19/04/24
Travel & Leisure
7,521.61
17:10 19/04/24
Group revenue jumped 17% to £83.6m over the course of the trading year, while adjusted pre-tax profits rose 33.8% to £28.5m.
In the UK, where On the Beach completed the £12m acquisition of Sunshine.co.uk in May, revenue increased 16.7% to £70.2m, while international revenues leapt ahead 48% to £1.7m.
UK EBITDA came in 30.3% higher at £32.7m, while internationally the group fell to a loss of £2m, reflecting the continued investment in driving its market share in Sweden and Norway.
Daily unique visitors rose 13.6% to 66m, while On the Beach maintained its ratio of revenue to daily unique visitors at £1.21.
On the Beach Group chief executive, Simon Cooper, said, "These results are further testament to the continued strength and flexibility of our agile business model."
"On the Beach has delivered a 33.8% increase in group adjusted profit before tax, in line with market expectations, and a market-leading performance for UK EBITDA as a percentage of revenue at 39.9%. Revenue growth in the international business supports our plans to launch in our third international market, Denmark, early in 2018," he added.
Earnings per share ticked up 25.4% to 13.8p.
As of 1010 GMT, shares had advanced 7.39% to 428.50p.