Prior to the crisis the group was trading well, with holiday sales growing 29% in the first four months, following the collapse of Thomas Cook.
However with the onset of the pandemic, revenue of £21.4 million was down 66% on prior year due to cancellations and a significant reduction in demand from mid-February. Adjusting for the exceptional cancellations H1 adjusted revenue of £52.8 million was down 17%.
H1 adjusted profit before tax of £2.3 million was down £13.4 million on prior year, impacted by the reduction in consumer demand and increased offline marketing spend which will now not pay back in H2.
