Business
Preliminary Results
Preliminary Results.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n Holidaybreak PLC\n29 November 2007\n\n\n29 November 2007: For immediate release\n \n\n\n HOLIDAYBREAK\n\n Results for the year ended 30 September 2007\n\n Year of transformation with creation of Education Division\n\n Well positioned for the future\n\nHolidaybreak, the European specialist holiday group, today announces preliminary\nresults for the year ended 30 September 2007.\n\nFinancial highlights\n 2007 2006\n £m £m\nGroup revenue 357.9 304.5\nOperating margins* 12.2% 11.6%\nHeadline profit before tax* 40.0 33.1\nStatutory profit before tax 37.5 32.1\nHeadline basic EPS* 59.4 pence 49.0 pence\nStatutory basic EPS 54.5 pence 46.8 pence\nNet debt 146.5 3.1\nDividend per share 32.1 pence 29.2 pence\n\n\n* Headline profits, operating margin, earnings per share, interest cover and\ndividend cover are stated before amortisation of acquired intangible assets of\n£2.5m (2006: £1.0m) and the tax effect thereof: £0.1m (2006: £nil).\n\nSummary\n\n * Holidaybreak continues to stand out amongst its peers in terms of\n generating margins and operating cash flows. We are market leaders in our\n specialist sectors. At the same time, the greater diversity of \n Holidaybreak's businesses gives the Group additional resilience.\n\n * Sales for Hotel Breaks Division were 13% above last year. The recovery in\n market conditions experienced in the second half of last financial year \n has continued. 'Packaged product' sales into London, with strong theatre \n offerings such as Joseph, Dirty Dancing and The Sound of Music, have been \n particularly buoyant. London theatre ticket agent West End Theatre \n Bookings, acquired in January, is performing well and in line with \n expectations.\n\n * Adventure Travel Division continues to perform satisfactorily. Adventure\n sales were 18% up. We are beginning to see a recovery in trading for \n holidays to the Middle East.\n\n * Camping Division generated cash and strong margins in the full year.\n Camping sales were down 3% compared with last year in the context of a 4%\n reduction in capacity.\n\n * Holidaybreak made two acquisitions in the education sector, PGL and NST,\n which have been formed into a new Education Division for the Group. The \n division is performing well, in line with expectations at the time of the \n acquisitions, and has considerable potential to deliver long-term value. \...