5th Feb 2016 09:00
LONDON (Alliance News) - On the Beach Group PLC on Friday reported solid growth in the four months to January 31, despite rapid changes in consumer demand over the period, partly driven by recent terrorist attacks in Egypt and Tunisia.
The online retailer for beach holidays said it had seen strong growth in bookings and revenue for the four-month period, which On the Beach attributed to its strategy of investment in technology, its direct sourcing of supply, and response to volatility in traffic.
On the Beach said the terrorist attack in Egypt - in which a Russian passenger jet crashed after leaving the beach resort of Sharm el-Sheikh - hit demand for holidays in the region, whilst the eastern Mediterranean also was a less popular destination over the period. However, the company added, this was offset by stronger demand for holidays in the western Mediterranean, and On the Beach said its online business model meant it reacted quickly to the changes.
On the Beach's revenue was up 26% year-on-year in the four-month period.
Mobile visitors made up 67% of the company's traffic, an increase of 31% year-on-year, whilst daily unique visitor numbers were up 19% year-on-year.
On the Beach said it is continuing to make progress with its Swedish website and is testing the service in Norway.
On the Beach will report its interim results on May 19. The stock was trading 7.9% down at 284.00 pence on Friday,
By Hannah Boland; [email protected]; @Hannaheboland
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