27th Jan 2023 08:57
(Alliance News) - On The Beach Group PLC on Friday said that it has started its new financial year with a healthier forward order book than the prior year.
On The Beach is an online retailer of beach holidays. It is based in Manchester. Shares in the firm were up 7.2% at 187.52 pence on Friday morning in London.
On The Beach said its total transaction value of holidays sold for October, November and December have exceeded the comparative months in financial 2022, despite historically being the quietest trading period for the company.
In addition, bookings since the Christmas period have also increased, though it acknowledged it was still "very early in the year". The firm said that in the year-to-date TTV is up 68% against the equivalent period the year prior.
Chief Executive Simon Cooper said: "It's been pleasing to see the key trends we observed throughout financial 2022 continue into financial 2023, especially into our key booking period, which results in group TTV growing 68% against our prior year. We are significantly increasing investment in our brand, technology and customer proposition to capitalise on this momentum and growth our market share."
On The Beach's financial year ends September 30.
By Heather Rydings, Alliance News senior economics reporter
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