Business
Full Year Trading Update and Notice of Results
Full Year Trading Update and Notice of Results.
About this update from On The Beach Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3552Q\n On the Beach Group PLC\n 27 October 2021\n \n \n \n \n 27 October 2021\n \n \n On the Beach Group plc\n \n \n (\"On the Beach\", \"OTB\" or the \"Group\")\n \n \n \n \n \n Full Year Trading Update and Notice of Results\n \n \n \n \n \n On the Beach Group plc (LSE: OTB.L), the UK's leading online retailer of beach holidays, today provides an update on trading for the 12 months to 30 September 2021 (\"FY21\") ahead of announcing its Preliminary Results on 9 December 2021.\n \n \n \n \n \n Following the Government's announcement in May 2021 on the traffic light system for leisure travel, where most destinations were classified \"amber\", On the Beach made the decision to extend the Group's off-sale period for holidays from 30 June to 31 August 2021. In addition to the Group's focus on growing its market share in the long term, the Board's decision was based on consumer feedback from both research and search / sales data, showing a market-wide lack of appetite for booking amber destinations, as well as the likely loss of customer goodwill for holidays that might be booked only to be cancelled or re-arranged. \n \n \n \n \n \n As a result of the above, the Group along with the whole travel industry experienced suppressed trading in H2. The Group has maintained investment in all strategic areas over this period, including technology, brand and supply, to ensure it remains well-placed to take advantage of the market share opportunity when demand for booking holidays returns. \n \n \n \n \n \n OTB restarted selling holidays to travel from early September 2021, when it became clearer that overall confidence to book a holiday had increased, with OTB research finding 53% of Brits feeling confident about booking a holiday for the remainder of calendar year 2021 (up from 34% in July 2021).\n \n \n \n \n \n While demand for international leisure travel currently remains below pre-pandemic levels, our specific initiatives, including the \"Free Covid Tests\" promotion, combined with a further softening of government restrictions, have stimulated bookings in the final weeks of the financial year. The increased awareness of brand and strengthening of trading over this period provides confidence that there is pent up demand for travel, and positions the business well as we ...