Holidaybreak has reported a 55% increase in revenue as it releases its interim six month results.

Chief executive Carl Michel said the revenue for the period ending March 31 was £156 million while the growth was expected following the acquisition of PGL and NST for the group’s educational division last year.

He added the educational division is proving resilient in the current market as it is currently 94% booked for 2008 and 32% booked for 2009.

Michel added sales for Hotel Breaks are 7% ahead of last year while adventure travel sales are 3% up even though geopolitical events abroad have negatively affected sales in key periods.

Camping sales are also 2% up following a 5% reduction in capacity and the division is now 90% booked for summer 2008.

The group is also continuing its investment programme with £1.8 million earmarked for increasing bed stock in the education division’s adventure centres while the group is investing £10.6 million to replace and upgrade older mobile homes in the camping division.

Michel said: “The group enjoys a sound financial position and once again expects to deliver industry-leading margins. Operating cash flow is expected to remain strong.
“Our operations are resilient and that gives us confidence about the longer-term outlook for the group.”