On the Beach narrows expected profit to £22–23 million

On the Beach ($OTB) expects annual adjusted pre-tax profit of £22–23 million, within the upper half of its previous £18–25 million range. Bookings increased 9%, while total transaction value rose 6% to approximately £1.3 billion. Bookings over the latest eight weeks were 17% higher, indicating stronger momentum late in the reporting period.

Repeat bookings grew 18%, and the company expects to finish the year debt free with approximately £60 million in cash. Its initial outlook for the following financial year calls for adjusted pre-tax profit of £28–35 million. Those numbers remain forecasts pending final results. Total transaction value represents the value of holidays sold, not the revenue retained by the travel platform itself.

Sources:

• Alliance News / AJ Bell — On the Beach trading update