Business
Results for the six months ended 31 March 2011
Results for the six months ended 31 March 2011.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1362H Holidaybreak PLC 24 May 2011 \n \n\nTuesday 24 May 2011: For immediate release \n \nHOLIDAYBREAK PLC\nResults for the six months ended 31 March 2011\nHolidaybreak, the education and activity travel group, announces its interim results for the six months ended 31 March 2011.\nThe Group traditionally reports an operating loss in the first half due to the seasonal nature of the Education and Camping businesses.\n \nKey financials\n\n\n\n\n\n\n\nHeadline results*\n\n\n Statutory results\n\n\n\n\n \n \n\n\nH1 2011\n£m\n\n\nH1 2010\n£m\n\n\n\n\n\nH1 2011\n£m\n\n\nH1 2010\n£m\n\n\n\n\nGroup revenue\n\n\n139.6\n\n\n150.2\n\n\n\n\n\n139.6\n\n\n150.2\n\n\n\n\nOperating loss\n\n\n-12.4\n\n\n-11.0\n\n\n\n\n\n-14.2\n\n\n-11.9\n\n\n\n\nLoss before tax\n\n\n-19.2\n\n\n-17.7\n\n\n\n\n\n-16.8\n\n\n-20.0\n\n\n\n\n \nHighlights\n§ Resilient performance in tough operating conditions.\n§ Strong performance from Education with 96% of 2011 revenue booked with sales intake to date 1% below last year.\n- PGL UK centres are currently 99% booked for 2011\n- Strong start to 2012 with Education 39% of 2012 revenue booked, including 63% at PGL UK centres\n \n§ Excellent trading performance from Meininger since acquisition with sales intake 16% ahead of last year. Expansion continues with 2 new sites opening this year and a further 6 sites in 2012 and 2013, including Amsterdam and Brussels.\n§ Net debt increased by £19.6m year on year reflecting the acquisition of the Group's 50% stake in Meininger for £30.8m.\n§ The Board has declared a half year dividend of 3.35p per share, up 5% on last year reflecting its confidence in the outlook for the full year.\n§ Sales intake for the year to date is 4% below last year reflecting a later booking trend at Camping; the Group remains on track to meet management expectations for the Group for the full year. \n \nMartin Davies, Holidaybreak Chief Executive, said:\n\"We have delivered a resilient performance in the first half despite the difficult trading environment. Our Education businesses continue to perform well, evidencing the strong social, political and demographic drivers for growth, and I am particularly excited about the growth prospects for Meininger and the potential to extend our of...