13th Feb 2008 07:00
Holidaybreak PLC13 February 2008 13 February 2008: For immediate release HOLIDAYBREAK PLC Interim Management Statement "On track for another successful year" Holidaybreak, the European specialist holiday and educational activity group,today issues its interim management statement which covers the period from 1October 2007 to 12 February 2008, in advance of its Annual General Meeting, tobe held at 2:30pm today. Summary Holidaybreak continues to perform well, with trading in the current financialyear in line with our expectations. Overall Group sales intake is 6% ahead oflast year. The Group enjoys a sound financial position and once again expects todeliver industry-leading margins and operating cashflow is expected to remainstrong. The diversity of Holidaybreak's specialist businesses, strengthened since thecreation of the Education Division, gives the Group additional resilience inwhat may be a more difficult consumer environment. We continue to reviewpotential acquisitions and organic investment proposals to expand the Group, sothat we maximise the opportunities available to us. The Board looks forward to another successful year. Divisional comment The Education Division, formed from the acquisitions of PGL and NST last year,now accounts for approximately 24% of pro forma Group revenues. It is currently78% booked for 2008 and 19% for 2009. Sales for the division are currently 10%above last year on a like-for-like basis. Sales intake for Hotel Breaks is currently 8% above last year. Packaged businessinto London remains strong, boosted by exhibitions such as Tutankhamun and ChinaWarriors and theatre shows such as Joseph and Dirty Dancing. Adventure Travel sales are 3% up. Events in Kenya and the Antarctic are expectedto reduce full-year revenues by about £2m. Camping sales to date are 1% up over last year in the context of a planned 5%reduction in capacity. The division is currently over 67% booked for the wholeseason, in line with our expectations. Revenues from our European businesses have benefited from the strengthening ofthe euro against sterling, though this benefit will be offset by the translationof euro costs. Interim Results Holidaybreak expects to announce its Interim Results for the six months ended 31March 2008 on 15 May 2008. Carl Michel, Holidaybreak Chief Executive, said: "Holidaybreak has started 2008 well, with the Group's trading in the currentfinancial year in line with our expectations." "With the addition of the Education Division, the Group has been expanded whileretaining its specialist focus. We are market leaders in our sectors, each ofwhich continues to demonstrate resilience." "We look forward to another successful year." Enquiries: Holidaybreak: +44 (0) 1606 787100Carl Michel / Bob Baddeley Brunswick: +44 (0) 20 7404 5959Craig Breheny / Ash Spiegelberg Note to Editors 1. Holidaybreak (HBR.L) is listed on the London Stock Exchange. Holidaybreak has four operating divisions: Hotel Breaks, Education, Adventure Travel and Camping. Each is a market leader in its respective specialist sector of the European holiday and educational activity industry, has multi-channel distribution and is recognised for providing high standards of product and service quality. For more information, please go to www.holidaybreak.co.uk. 2. The information in this release is based on management information. 3. Certain statements in this announcement are forward looking statements. Such statements are based on current expectations and by their nature are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward- looking statement. The information does not assume any responsibility or obligation to update publicly or revise any of the forward-looking statements contained herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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