Business
Interim Management Statement
Interim Management Statement.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n \nRNS Number : 5347M Holidaybreak PLC 18 August 2011 \n \n\nThursday 18 August 2011: For immediate release \n \nHOLIDAYBREAK PLC\n \nInterim Management Statement\n \nHolidaybreak, the education and activity travel group, today releases its interim management statement for the period 31 March 2011 to 13 August 2011.\nWith 98% of target Group revenue booked, Holidaybreak is performing in line with management expectations for the year ending 30 September 2011. \n \nMartin Davies, Group Chief Executive, said:\n\"We continue to deliver a satisfying performance despite the tough economic environment. Particularly pleasing is the late demand for bookings at our Camping Division. We therefore remain confident of performing in line with management's expectations for the year ending 30 September 2011. \nTrading for 2011/12 is strong with our education businesses currently 61% booked with PGL UK outdoor education centres 84% booked. Overall, Education is showing revenue growth of 6% year on year.\"\n \nOperational Summary\nGroup sales intake is down 4% compared with last year. On a divisional basis:\n§ Education sales intake is 1% below last year although this has been more than offset by improvements in gross margin through effective yield management at PGL. Meininger, the German school accommodation business in which we acquired a 50% stake in December 2010, is 22% ahead of last year in sales intake. The excellent performance is driven by good like-for-like trading and successful site openings;\n§ Adventure sales intake is currently 3% below last year with the geopolitical events in the Middle East and North Africa negatively impacting performance as previously disclosed;\n§ Hotel Breaks sales intake is 10% below last year with the ongoing difficult consumer environment affecting performance, particularly Superbreak's sales through the retail travel trade. The loss at Superbreak of airport hotel contracts with large retail travel agents continues to affect performance adversely, although this is a low margin product. Excluding these airport hotel contracts, the underlying trend shows sales intake currently at 8% below last year; \n§ Camping sales intake is 2% below last year in the context of a 3% reduction in capacity. The division has benefitted from a strong demand for late bookings in the UK an...