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 GBP30.0 million for the financial year ending September 30. Adjusted pretax profit was GBP23.6 million in financial 2023 and statutory pretax profit was GBP12.9 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%
By Tom Waite, Alliance News editor
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On The Beach (OTB)