On The Beach Group expects ‘another record year’

On the Beach Group has reported a record half-year performance with adjusted revenue up 12% year on year to £64.2 million as “demand for holidays remains strong”.

 

The online travel agency and owner of B2B brand Classic Collection revealed total transaction value (TTV) for the six months ended March 31 was up 13%, to £640.7 million, driven by booking volumes which rose 11%. Adjusted profit before tax was up 23% to £7.6 million.

 

It reported quarterly year-to-date booking momentum has been building, with volumes up 7% in Q1 and 15% in Q2. They are currently up 18% in Q3.

 

The group also highlighted its expansion into Ireland and the city break markets, which will contribute to further growth in the second half of its financial year.

 

“As a result of these factors, and the continued execution of strategy, another record year is expected,” said the results statement.

 

Shaun Morton, chief executive of On the Beach Group, said: “I am very pleased to report another strong first half, in which the group achieved TTV growth of 13% and revenue growth of 12% year on year.

 

“This record interim performance was driven by increased passenger bookings and reflects the strength of the On the Beach holiday proposition.”

He hailed ongoing investment in its technology platform, adding: “Embedding perks into our app has resonated well with customers, while transformational development to our platform have facilitated our successful expansion into Ireland and city break packages, offers which are scaling rapidly and being enjoyed by both new and existing customers.

 

“Demand for holidays remains strong as our customers continue to prioritise travel, and we are proud to have increased the breadth and quality of our offer so that they can holiday better and more often.

 

“This trend is reflected in our summer ’25 forward order TTV which is currently 14% ahead of last year.

 

“Our trading momentum, coupled with the continued execution of our strategy, means we are well placed to deliver our biggest summer to date and remain on track with our medium-term ambition.”

 

The half-year statement includes results for the group’s B2B Classic Collection operations, which were restructured in the previous year.

 

It shows an operating loss of £1.3 million compared to an operating profit of £200,000 in the same period last year.

 

“Despite a challenging high street market, Classic Collection has made solid progress with growth in bookings of 36% in H1. Overheads have increased YoY as a result of the transfer of activity following the restructure,” said the statement.

 

“Further strategic developments at the end of H1, including improved customer access to Ryanair flight inventory and the launch of Classic Collection in Ireland, give us confidence that the segment can return to profitability in H2.”