Holidaybreak PLC
20 September 2000
Holidaybreak plc
Trading Update
Holidaybreak plc, the UK's leading provider of specialist holidays, is pleased
to issue the following trading update.
In the absence of unforeseen circumstances, we anticipate a final profit
figure in excess of £20m, before tax and goodwill amortisation, and earnings
per share of at least 33p, both figures in line with market expectations. Our
Hotel Breaks business has performed extremely strongly, Camping will achieve a
creditable result despite difficult market conditions and our recent
acquisition Explore Worldwide has also progressed well.
Camping
As we anticipated, later bookings in our Camping businesses have come through
strongly. In common with most overseas tour operators we had encountered
difficult market conditions in the early booking season but now expect to
achieve a satisfactory result and growth on the 1999 figure. Keycamp, with
its higher proportion of mobile-homes, has led the way in the UK with further
market share gains whilst the highlight for Eurocamp has been a strong
performance in the German market. Bookings for 2001 are now starting to come
in although it is too early for meaningful patterns to be established.
Hotel Breaks
Hotel Breaks has had an excellent year with strong year on year growth figures
throughout. All sectors of the business have performed well but the success
of our on-line Internet booking facility at www.superbreak.com has been
particularly pleasing. In recent weeks, we have redesigned the site and
upgraded functionality. In July, we acquired Hotelnet, a well established UK
Internet booking portal which we aim to develop into one of Europe's leading
on-line booking sites.
With lead times in the short-break sector being generally short,
only a small proportion of bookings for 2000/1 have been
received to date. However, we are pleased to report that the
positive booking trends which we experienced throughout the
1999/2000 season currently look set to continue.
Adventure Holidays
In February 2000, in a £30m deal, we acquired Explore Worldwide,
the market leading adventure holidays specialist. The
integration of Explore into the Group has gone well and trading
has been at the upper end of expectations over the summer months
with good levels of growth on 1999. Winter season bookings have
come in strongly to date.
At the beginning of August, we acquired Regal Holidays, the
highly regarded diving holiday specialist. Regal has joined
Explore Worldwide as part of our Adventure Holidays division.
Preliminary Results Announcement
The date of our Preliminary Results announcement for the year to
30th September 2000 has been fixed for Monday 4th December.
Future Prospects
The acquisition of Explore Worldwide, Regal Holidays and Hotelnet
has added three exciting businesses to our portfolio, opening up
opportunities in rapidly growing markets, and given the Group a
better balance. The continued progress made in 2000, despite
difficult market conditions, renews our confidence that
Holidaybreak will continue to grow and prosper.
Enquiries: Richard Atkinson, Chief Executive
Bob Baddeley, Finance Director
Holidaybreak plc
Telephone: 01606 787 100
Lesley Allan
Hudson Sandler Limited
Telephone: 020 7796 4133
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