Happy days at Holidaybreak

12 April 2012

THEY'RE all happy campers at Holidaybreak today. Sales of the good old flapping-canvas type of family holiday have held up well while adventurous trips to far-flung corners of the world have been hit by concerns relating to 11 September.

Bookings in the camping division, which is responsible for 67% of annual profits, are up 6% on last year, while short-break hotel jaunts have gone up by 30%. Although adventure holiday profits will be down in the second half, chairman Angus Crichton-Miller said the company was 'on track for further profits growth' in the full year.

The seasonal first-half loss for Holidaybreak, which takes in the Keycamp and Eurocamp brands, was 10% lower than last year at £6.7m as turnover for the six months ended 31 March soared 18% to £44.1m. The half-year dividend is up 9.2% at 5.9p.

Although camping remains by far the biggest money-spinner, Holidaybreak is keen to push the less seasonal Citybreak side. Since the end of the half year, bookings 'have continued to forge ahead' with like-for-like sales up by 30%. The group has added a further 100 hotels to the 450 it already offers. Crichton-Miller said net margins had improved due to cost control and economies of scale.

The shares were 12 1/2p higher at 525p.

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