Shares of Manchester-based holiday firm On the Beach Group rose about 3% after it published a year-to-date trading update (FY25) for its Annual General Meeting on Tuesday.
The company’s share price is up more than 70% for the past 12 months, giving it a current stock market value of almost £400 million.
“Following another record year in FY24, the board is pleased to report that this momentum has continued into FY25,” said the Manchester firm.
“The company has delivered TTV (total transaction value) growth of 10% year-on-year (YoY) with Winter 24/25 TTV up 18% and Summer 25 TTV up 10%, reflecting the strength of the On the Beach holiday proposition.
“In addition to strong early bookings for Summer 25, Group TTV of holidays scheduled to travel from March through to June is up 17% YoY, demonstrating that customer demand for holidays, from On the Beach in particular, continues to buck wider UK consumer trends.”
The firm added: “On the Beach’s enhanced strategy, coupled with its asset light, low fixed cost operating model with no committed inventory to fill, naturally mitigates the wider inflationary macro pressures experienced across the broader sector, while allowing for competitive pricing to capture share in a growing market.
“Investment in our technology enabled us to expand the group’s strategy into City packages in Q4 FY24, with the offering scaling rapidly and now taking bookings to over 70 city destinations.
“International expansion through the sale of package holidays from the Republic of Ireland has also made good progress since launch, supported by the Group’s first targeted marketing campaign in January 2025.
“The current positive booking trends provide the Group with confidence that Summer 25 will be significantly ahead of Summer 24. As a result, the board is confident in delivering FY25 Adjusted PBT in line with the company compiled consensus.
“Following the launch of its £25m share buyback programme in December 2024, the Group has acquired 6,575,377 ordinary shares of 1p each to date and completed 64% of the buyback programme.”
On the Beach Group CEO Shaun Morton said: “I am pleased to report double digit Group TTV growth with new and existing customers trusting On the Beach to help them holiday better and reflecting the strength and breadth of our holiday proposition.
“I am really excited by the progress we have made following the recent launch of our strategic growth initiatives focused on selling City packages and package holidays from the Republic of Ireland.
“Demand for Cities has been strong with routes to Amsterdam, Paris and Krakow proving particularly popular with both existing and new customers. Similarly, our first marketing campaign in the Republic of Ireland has generated strong bookings growth across both City and beach.
“The success of these early-stage strategic initiatives combined with the growth in our core beach proposition give me the confidence that Summer 25 will be significantly ahead of Summer 24 and the Group will deliver FY25 Adjusted PBT in line with market expectations.”