Business
Trading Statement
Trading Statement.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n Holidaybreak PLC\n14 September 2007\n\n\n14 September 2007: For immediate release\n\n\n HOLIDAYBREAK PLC\n\n Pre-close trading update\n\n\nHolidaybreak, the European specialist holiday group, today releases its normal\ntrading update prior to the end of its current financial year\n\n\nSummary\n\nHolidaybreak continues to perform well. The Board believes that the Group's\nfinancial and trading prospects for the financial year ending 30 September 2007\nremain satisfactory. Holidaybreak expects to again deliver industry-leading\nmargins. Following the recent acquisition of PGL for £100m, year end net debt\nwill be substantially higher than at the previous year end, as anticipated.\n\nGiven the strength of its balance sheet and its cash generation, Holidaybreak\nremains well positioned to grow its operations, both organically and by\nacquisition.\n\nCarl Michel, Chief Executive, said:\n\n\"With two weeks to the end of our current financial year, Holidaybreak remains\non target to perform well. The poor summer weather was generally helpful to our\nbusinesses, driving late bookings to Camping. We are particularly pleased with\nthe progress being made at PGL, our recent acquisition.\n\nWe are market leaders in our specialist sectors. Looking ahead, there are\nseveral possible acquisitions in the pipeline and we will continue to look at\nall the opportunities to grow our expanded portfolio of brands within the\nHolidaybreak group.\"\n\nTrading update\n\nAs we approach the end of the financial year to 30 September 2007, Holidaybreak\nis again expected to deliver industry-leading margins. The diversity of\nHolidaybreak's businesses and their flexible cost structure gives the Group\nrobustness.\n\nHotel Breaks\n\nHotel Breaks' overall sales intake for 2007 is currently 7% above 2006\nequivalents. London continues to perform strongly on the back of strong theatre\nand exhibition demand. We have benefited from the inclusion of West End Theatre\nBookings (acquired in January) and this has driven our 'packaged' share from 27%\nto 40%.\n\nAdventure Travel\n\nThe Adventure Travel Division looks set to report on another good year. Sales\nare 4% up on 2006 equivalents. Results were however hit by geographical events\nthe Middle East throughout the year. The increase in air passenger duty had a\nmodest impact.\n\nCamping\n\nCamping sales are le...