Strong numbers in travel sector as On the Beach and Travel Counsellors smash sales records
Two North West travel businesses have this week both claimed record sales figures for the year
This morning the stock market listed On The Beach said it sold holidays worth £1.2bn in the year with summer 2024 sales growing by 13%.
This follows a claim from private equity backed Travel Counsellors (TC), that it had achieved a record of more than £1bn in sales for the previous 365 days, though this doesn’t represent a formal reporting period.
Both companies have different models, and £364m of TC’s sales across the period were for tailored TC packages, building on the company’s success as a tour operator.
297 new self-employed Travel Counsellors joined the business over the period, a 7% increase against the prior year, taking the company to 2,121 Travel Counsellors in its community at the end of August.
Steve Byrne, CEO of Travel Counsellors, said: “We now have our sights firmly set on doubling the size of the business in the next 3-5 years.”
On the Beach has sealed a deal with Ryanair following a noisy dispute with the Irish budget airline.
Shaun Morton, Chief Executive of On the Beach, added: “The considerable progress made over the last twelve months has set us up for further success in FY25. Looking ahead, Winter 24 volumes are currently 34% ahead of the prior year, with customers seeking winter sun and enjoying our Long-Haul destination packages. Notwithstanding that it remains in its early stages, bookings for Summer 25 are very encouraging and we look forward to providing further detail at our preliminary results in December.”
On The Beach told the markets this morning that it expects to make £31m of “adjusted profit before tax” when it announces results on the 3rd of December.
Analysts at Panmure Gordon described the trading update at On The Beach as “encouraging”. “With volume growth ahead of capacity growth, OTB is taking market share and we reiterate BUY and had a target price of 200p.”
Shares in On The Beach are trading at 138p, down from 145p yesterday.
