Holidaybreak PLC
29 January 2007
29 January 2007
HOLIDAYBREAK PLC
Acquisition of West End Theatre Bookings
Holidaybreak, the European specialist holiday group, today announces that its
subsidiary, Superbreak Mini-Holidays Limited, has acquired the London theatre
ticket agent West End Theatre Bookings Limited from its owners Andrew and
Michelle Peterson, Timothy Cory and Hema Patel.
West End Theatre Bookings' top selling shows are The Sound of Music, Dirty
Dancing, Lion King and Mamma Mia. Its websites include: www.uktickets.co.uk,
www.londontickets.co.uk and www.westendtheatrebookings.com. It also sells via
its call centre and has outlets in the West End.
The initial consideration of £2.6m was paid in cash upon completion. Deferred
consideration of up to £0.6m will be payable, over three years following
completion subject to certain conditions. West End Theatre Bookings made a
profit before tax of £0.4m on revenue of £9.1m in the twelve months ended 30
September 2006. The acquisition is expected to be marginally earnings enhancing
(pre-amortisation of intangibles)* for Holidaybreak in the financial year ended
30 September 2007.
Andrew Peterson, who founded the business in 1987, will remain as Managing
Director of the business, along with his management team. The business will sit
within Hotel Breaks, the largest division in the Holidaybreak Group.
Carl Michel, Chief Executive of Holidaybreak, said: "The acquisition of West End
Theatre Bookings strengthens our position in London theatre-inclusive breaks and
builds on our product packaging strategy. I am pleased to welcome Andrew and his
team into our group and we look forward to developing the business".
*This statement should not be taken to mean that the earnings per share of
Holidaybreak plc will necessarily match or exceed the historic reported earnings
per share of Holidaybreak plc and no forecast is intended or implied.
Enquiries:
Holidaybreak +44 (0)1606 787100
Carl Michel / Bob Baddeley
Brunswick +44 (0)20 7404 5959
Craig Breheny / Ash Spiegelberg
Note to Editors
Holidaybreak (HBR.L) is listed on the London Stock Exchange. The European
specialist holiday group sold 3.1m holidays in the year ended 30 September 2006
(2005: 3m). Holidaybreak has three operating divisions: Hotel Breaks, Adventure
Travel and Camping. Each is a market leader in its respective specialist sector
of the European holiday 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
This information is provided by RNS
The company news service from the London Stock Exchange
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Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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