Holiday firm hits sales targets

Jul 24 2008 by Alex Turner, Liverpool Daily Post

HOLIDAY firm Holiday- break is in a robust position to weather the credit crunch, the Cheshire-based company said yesterday.

In an interim management statement to the stock market, the campsite firm said it “continues to perform well in what is a more difficult trading environment”.

The group said it has achieved 93% of its target sales with two months of the financial year still to go and all of its four divisions – education, camping, adventure and hotels – are showing growth.

Carl Michel, Holidaybreak’s chief executive, expressed his satisfaction at the sales, which are 4% higher than last year.

He said: “The current financial year is broadly in line with our expectations.”

The firm has completed the refinancing of its borrowing facilities which it believes will provide the flexibility to grow.