Business
IMS and Directorate Change
IMS and Directorate Change.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n RNS Number : 4435W Holidaybreak PLC 29 July 2009 \n \n\n29 July 2009: For immediate release\n\nHOLIDAYBREAK PLC\n\nInterim Management Statement and Directorate Change\n\nFollowing successful completion of its £33.2m rights issue, Holidaybreak, the education, leisure and activity travel group, today releases its interim management statement for the period from 31 March 2009 to 28 July 2009, two months before the end of its current financial year.\nIn addition, Carl Michel, Group Chief Executive, has decided to stand down from the role for personal reasons unconnected with the business. John Coleman has taken on the role of executive Chairman with immediate effect and will remain so until a new Chief Executive is appointed. A recruitment process is commencing immediately. Carl will step down from the Board officially on 30 September 2009.\nThe Group continues to perform well in what remains a difficult trading environment, and the trading prospects for the current financial year remain satisfactory and in line with management expectations for the full year. Overall, the Group is now booked at 94% of our target sales, with year to date sales up 2% on last year.\nThe Group now has additional expansion capital, following the completion of the rights issue earlier this month. We are continuing to progress with negotiations for the acquisition of a large PGL outdoor education centre, as previously announced.\nEducation Division sales for 2008/9 are up 11% (7% on a like-for-like basis), in line with expectations. For 2009/10, the division is 50% booked. PGL outdoor education centres are 74% booked and are showing revenue growth of 6% year on year. \nHotel Breaks sales for 2008/9 are down 4%, a marginal improvement from the trend previously announced. Sales are encouraging as trading improves and the division is now moving into a period of less challenging comparatives. We continue to benefit from improved supplier offers (lower room rates and train fares) and better availability.\nThe adventure travel market remains difficult. 2008/09 sales for the Adventure Travel Division are up 3% but 4% down at constant exchange rates. \nCamping Division sales for 2008/9 are up 1% but 4% down at constant exchange rates, on 4% lower capacity than last year, with later booking patterns in line with expectations. \n\nJohn Colema...