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On the Beach Group PLC - Manchester, England-based online beach holidays retailer - Tells annual general meeting on Friday that is financial year began with a ‘record forward order book and significant momentum’. This continued into its peak booking period with total transaction value for the year 27% ahead of the equivalent period of financial 2023.
‘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 expectations,’ On the Beach says. It cites company-compiled market consensus as adjusted pretax profit of £30.0 million for the financial year ending September 30. Adjusted pretax profit was £23.6 million in financial 2023 and statutory pretax profit was £12.9 million.
Chief Executive Shaun Morton says total transaction value for the current winter season is 34% ahead of a year before, giving him confidence that summer 2024 will be ‘significantly ahead’ of 2023.
Current stock price: 167.30 pence, up 2.0% in London on Friday morning
12-month change: down 4.4%
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