Manchester holiday firm On the Beach Group plc said it intends to commence a share buyback programme for up to a maximum of £10 million. The purchased ordinary shares will be cancelled.

“In line with the company’s capital allocation policy, the board has determined that sufficient surplus cash exists to commence a share buyback of up to £10 million, building on the £50 million already returned to shareholders through share buybacks and dividends in FY25 and the first half of FY26,” said On the Beach.

“On the Beach remains committed to investment into the business to deliver organic growth, maintaining a sustainable and progressive dividend policy, investing in additional growth opportunities and returning surplus cash to shareholders.”