By Anthony O. Goriainoff
On the Beach Group, a leading online holiday retailer in the UK, has announced that it anticipates its adjusted pretax profit for the year ending Sept. 30 to reach the upper end of market expectations. This positive forecast can be attributed to a surge in bookings, record-breaking revenue, and higher-than-expected interest income.
The total value of holidays booked by customers before cancellations and amendments during this period rose by an impressive 26% to approximately £1.1 billion ($1.37 billion). This growth was primarily driven by an increase in both booking volumes and average values.
On the Beach Group has further disclosed its projections for passenger numbers in the upcoming years. It expects a remarkable 11% increase in passenger numbers for summer 2023 compared to summer 2022. Additionally, winter 2023 figures are anticipated to be 26% higher than the previous year.
Chief Executive Shaun Morton expressed his optimism about the company’s future performance. “Following our strong second half performance,” he stated, “we will conclude fiscal 2023 with significant momentum, boasting a record forward order book and notable progress in our strategic expansion areas. These achievements provide a solid foundation upon which we can continue to grow in fiscal 2024.”
