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Winter Sunshine for On The Beach
Online holiday retailer On The Beach has reported a positive winter period after the collapse of airline giant Monarch in October.
The company capitalised on an increase in seat prices for winter departures due to the absence of its low cost competitor, with a return to growth in customer demand for destinations in the east Mediterranean further benefiting sales.
Simon Cooper, Chief Executive of On The Beach Group, said: "The first four months of the new financial year has delivered another solid period of growth for the On the Beach, Sunshine and ebeach brands."
Customer demand for 2018 summer departures was described as "strong", with management adding that it was more than offsetting any weakness in the market for late winter departures.
For the four months to 31 January, UK revenues after marketing costs were ahead by 23%, the company said in a statement.
In the UK, the company already held a 20% share of online sales in the short haul holiday market and was pushing for more.
"Our third nationwide television advertising campaign started on Christmas Day and has helped drive this strong performance as our brand awareness continues to grow." Cooper said.
The company's international division ebeach has also shown year on year growth in Sweden and Norway and the company intend to soon launch the site in Denmark.
In parallel, versus the same period one year ago, the international sites in Sweden and Norway continued to show strong growth.
As of 0956 GMT, shares of On The Beach were up by 0.40% to 503p and changing hands just off their 52-week highs.