Business
Interim Results
Interim Results.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n RNS Number : 8238L Holidaybreak PLC 13 May 2010 \n \n\nThursday 13 May 2010: For immediate release\n \nHOLIDAYBREAK PLC\nResults for the six months ended 31 March 2010\n \nHolidaybreak, the education, leisure and activity travel group, announces its interim results for the six months ended 31 March 2010.\nThe Group traditionally reports an operating loss in the first half due to the seasonal nature of the Education and Camping businesses. \n \n\n\n\n\n \n \n \n\n\nH1 2010\n \n£m\n\n\nH1 2009\nRestated 3\n£m\n\n\nFY 2009\nRestated 3\n£m\n\n\n\n\nGroup revenue\n\n\n150.2\n\n\n153.2\n\n\n473.4\n\n\n\n\nHeadline (loss) profit before tax1\n\n\n(17.7)\n\n\n(18.1)\n\n\n28.3\n\n\n\n\nStatutory (loss) profit before tax\n\n\n(20.0)\n\n\n(36.6)\n\n\n5.3\n\n\n\n\nNet debt\n\n\n129.2\n\n\n179.7\n\n\n138.1\n\n\n\n\nDividend per share2\n\n\n3.20p\n\n\n3.20p\n\n\n11.10p\n\n\n\n\n \nSummary\n§ Results are in line with our expectations. \n§ The Group was cash positive in the first half of the year for the first time.\n§ The strong focus on cash management has resulted in a £30.1m reduction in net debt, compared with 31 March 2009, after adjusting for the Rights Issue and for the purchase and development of PGL's Liddington site.\n§ Sales intake for the Education Division is currently level with last year on a like-for-like basis. The division is currently 93% booked for 2010 and 30% for 2011. \n§ The new outdoor education centre at Liddington opened on time and on budget in April with 400 beds. This site has a potential capacity of up to 1,400 beds, which exceeds the division's current projected capacity plans over the next three years. Liddington's potential means that this increase in capacity will be achieved at a considerably lower cost than previously anticipated.\n§ Sales intake for Hotel Breaks in the current year is 3% below last year.\n§ Sales intake for the Adventure Travel Division is 2% ahead of last year. \n§ Sales intake for the Camping Division is 2% ahead of last year in the context of 8% lower capacity. Approximately 82% of target sales have been booked.\n§ The volcanic eruption in Iceland that resulted in closure of much of Northern Europe's airspace has not had a material impact on the Group's overall financial performance. \n§ The Board has declared a half year dividend of 3.20p...