HOLIDAYBREAK is looking to buy a specialist operator as it bids to expand its portfolio on the back of a 24% rise in pre-tax profits.
Chief executive Richard Atkinson said the company is actively seeking acquisitions and hopes a deal will be completed in three to six months. The company’s current portfolio includes Superbreak, Keycamp and Eurocamp.
“We want to build on what has been a good year and move into another specialist area,” said Atkinson.
He ruled out any entry into the short-haul air package market but said long haul remained a possibility.
“We are a broad-minded company,” he said
He refused to say whether acquisition talks were currently taking place but said discussions were always on-going.
Profits rose to £17.3m in the year ending August 30, an increase of £3.3m on 1998, largely due to the acquisition of Keycamp. Turnover increased by 25% to £142.4m.
After a tough year, Superbreak recovered to post figures in line with 1998.
Atkinson said sales in the first quarter for the hotel sector are 20% ahead of last year.
The operator is also aiming to create a better balance of camping sales by increasing peak holiday prices by 20% and slightly reducing rates in the off-season.
“As a consequence, overall booking volumes are slightly behind the equivalent 1999 figures,” said Atkinson. “But the seasonal spread of bookings has improved and we expect the school holidays will sell out at significantly higher yields.”
He added that mobile-home accommodation continues to gain share over camping.