Manchester-based holiday retailer On the Beach Group plc said preliminary adjusted profit before tax for the year was in line with market expectations of £31 million.

The company, which has a partnership with discount airline Ryanair, said total transaction value of holidays booked, before cancellations and amendments, hit a record of £1.2 billion, up 15% from last year.

Shaun Morton, Chief Executive of On the Beach, said: “Summer 24 has set a new record for On the Beach and our full year performance represents the third consecutive year of revenue growth while delivering improved operating leverage resulting in significant EBITDA and PBT growth.”

“Looking ahead, Winter 24 volumes are currently 34% ahead of the prior year, with customers seeking winter sun and enjoying our Long-Haul destination packages. Notwithstanding that it remains in its early stages, bookings for Summer 25 are very encouraging and we look forward to providing further detail at our preliminary results in December.”