On the Beach is predicting a strong lates market for this summer as consumer confidence grows.
Announcing the group’s interim results to the end of March, chief executive Simon Cooper said: "In the absence of any future negative market events, we anticipate stronger consumer confidence in the second half of the financial year, buoyed by a strong lates market, and are on track to meet our expectations for the full year."
He said the terrorist attacks in Paris and November had created ‘uncertainty and volatility’ in the holiday market, but said the group has adapted to changes.
Cooper said the company had focused on adding supply in the Western Mediterranean, enhancing margin, delivering operational efficiencies and ‘retaining an efficient level of spend in driving demand to site’.
Revenue for the six month period increased 21.6% to £35.5m, while operating profit, before amortisation and exceptional costs, was up 35.5% to £10.3m.
Adjusted underlying profit before tax was up 53.2% to £9.5m.
