February 28, 2020 / 2:22 PM / in a month

BRIEF-On The Beach Group Sees FY Ending Sept 2020 Results Below Current Market Expectations

Feb 28 (Reuters) - On The Beach Group PLC:

* ON THE BEACH GROUP - COVID-19 UPDATE

* ON THE BEACH - EXPERIENCED SMALL BUT NOTICEABLE REDUCTION IN DEMAND FOR SUMMER 2020 TRAVEL FOLLOWING EARLY REPORTS OF COVID-19 CASES IN EARLY FEB

* ON THE BEACH GROUP PLC - BOARD BELIEVES THAT GROUP’S FULL YEAR RESULTS FOR YEAR TO 30 SEPTEMBER 2020 WILL BE BELOW CURRENT MARKET EXPECTATIONS

* ON THE BEACH - DOES NOT NOW EXPECT GROUP TO ACHIEVE PAYBACK IN CURRENT FINANCIAL YEAR ON ITS PREVIOUSLY OUTLINED STRATEGIC MARKETING INVESTMENT

* ON THE BEACH- REDUCTION IN DEMAND ACCELERATED SIGNIFICANTLY FOLLOWING INCREASE IN COVID-19 CASES IN EUROPE, PARTICULARLY SPREAD TO TENERIFE Source text for Eikon: Further company coverage:

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