Education the key to Holidaybreak’s rise

Feb 14 2008 by Alex Turner, Liverpool Daily Post

SPECIALIST holiday firm Holidaybreak is looking ahead to a successful 2008, buoyed by the performance of its new education division.

The firm, based in Cheshire, issued a positive message in its interim statement ahead of yesterday’s annual general meeting.

Year-on-year sales of its educational trips have increased 10%, with 2008 bookings currently at 78% of capacity.

Holidaybreak purchased activity trips provider PGL for £50m last May and NST, a school and college trip specialist, for £47.2m in October. Educational trips represent 24% of the group’s revenues.

However, unrest in Kenya and the high-profile evacuation of 150 passengers from a tourist ship off Antarctica last November are expected to reduce full-year revenues by £2m despite the adventure division increasing sales by 3%.

The group, which employs 1,200 administrative staff and around 4,000 seasonal staff, also has divisions for city breaks and camping.

Carl Michel, Holidaybreak chief executive, said: “With the addition of the education division, the group has been expanded while retaining its specialist focus. Holidaybreak has started 2008 well, with the group’s trading in the current financial year in line with our expectations. We look forward to another successful year.”

Overall sales are 6% up on last year, and the group claimed that trading was in line with their expectations.

Hotel breaks are showing an uplift of 8%.

The camping division has seen sales increase by 1%, as it reduces its capacity by 5%.

The group is scheduled to announce its interim results for September to March on May 15. Last year it made annual pre-tax profits of £40m.

alex.turner