Ten Lifestyle Group PLC - London-based concierge platform - Total value and number of travel bookings over the four months ended September 30 have reached the same levels as the same period in 2019, in the pre-pandemic period.
However, commission levels are 30% above the levels of 2019, due to a change in the mix led by more hotel bookings and fewer lower margin flights.
"Travel, along with organising restaurants, live events and luxury benefits and offers, is a core category for Ten's lifestyle concierge service. Our travel services largely consists of holidays, hotels and flights organised by Ten's experts globally for high net worth and mass affluent members," said Chief Executive Officer Alex Cheatle.
"Ten believes it has weathered the pandemic storm well, compared with much of the travel industry. Ten has remained profitable (on an Ebitda level) and has not taken on long-term debt nor raised new equity since the start of the pandemic, aside from the exercise of share options," Cheatle.
Ten Lifestyle will publish its annual results on November 24.
Current stock price: 98.00 pence, up 3.0%
Year-to-date change: up 12%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Ten Life (TENG)