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On The Beach will expand its international presence as Med recovers

Holiday group On The Beach PLC (LON:OTB) saw a 23% increase in revenue for the four months to January as demand for holidays in Egypt recovered. Customer looking for bargains at destinations in the Eastern Mediterranean drove strong bookings growth for summer 2018 departures
holiday
Customers are looking for bargains in the Eastern Mediterranean

Holiday group On The Beach PLC (LON:OTB) saw a 23% increase in revenue for the four months to January as demand for holidays in Egypt recovered.

Customers looking for bargains at destinations in the Eastern Mediterranean drove strong bookings growth for summer 2018 departures.

This was offsetting weakness in the market for late winter departures, said Simon Cooper, chief executive.

The collapse of budget airline Monarch led to significant seat price increases for winter departures, but additional seats have now become available from other airlines, diluting the effect.

Following the success of the international sites in Sweden and Norway, the group will launch its third international site in Denmark shortly, he added.

Shares were little changed 499p.

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