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On The Beach boss hails 'highly successful year'

Financial results
TTG Staff
9 December 2015

OTA On The Beach has seen its operating profit more than double in its first set of results as a listed company.

Beach, benidorm

The firm, which specialises in the short-haul beach market, floated on the London Stock Exchange in September.

Group operating profit for the year ended September 30, rose from £3.8 million to £8 million. Revenues also increased from £45.8 million to £63.1 million.

The firm fell to a pre-tax loss of £2.5 million largely because of a shareholder interest payment of £7.8 million.

Simon Cooper, chief executive, said: "2015 has been a highly successful year for On the Beach, delivering substantial growth and culminating in our IPO in September 2015.