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On the Beach Group reports 30% pre-tax profit growth

Economy
Jennifer Morris
11 May 2017

On the Beach Group has reported a 30% growth in pre-tax profits for the first six months of its financial year.

On The Beach screengrab

The results follow the group’s announcement on Wednesday that it is to acquire the issued share capital of rival OTA Sunshine.co.uk for a total consideration of £12 million.

Group revenue increased 7.3% to £38.1 million with a later booking pattern for peak departures.

Group profit before tax was up 33.8% to £9.9 million, with adjusted group profit before tax up 28.4% to £12.2 million. Net debt at half year reduced to £2.3 million.

Meanwhile, daily unique visitors increased by 9.5% to 27.5 million during the period.