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On The Beach Group PLC (OTB.L)

OTB.L on London Stock Exchange

216.50GBp
23 Oct 2020
Change (% chg)

2.50 (+1.17%)
Prev Close
214.00
Open
219.00
Day's High
225.00
Day's Low
216.50
Volume
643,605
Avg. Vol
273,161
52-wk High
500.00
52-wk Low
112.60

Latest Key Developments (Source: Significant Developments)

On The Beach Group Says Shaun Morton TO Become CFO
Tuesday, 30 Jun 2020 

June 30 (Reuters) - On The Beach Group PLC ::ON THE BEACH GROUP - DIRECTORATE CHANGE – CHIEF FINANCIAL OFFICER.CFO PAUL MEEHAN, HAS TENDERED HIS RESIGNATION TO BOARD IN ORDER TO PURSUE OTHER BUSINESS INTERESTS.SHAUN MORTON, GROUP'S DIRECTOR OF FINANCE, WILL BE PROMOTED TO CHIEF FINANCIAL OFFICER.  Full Article

On The Beach Group H1 Adjusted Pretax Profit 2.3 Mln Stg
Tuesday, 30 Jun 2020 

June 30 (Reuters) - On The Beach Group PLC ::ON THE BEACH GROUP - INTERIM RESULTS FOR THE 6 MONTHS ENDED 31 MARCH 20.H1 ADJUSTED PRETAX PROFIT 2.3 MILLION STG.H1 REVENUE FELL 66 PERCENT TO 21.4 MILLION STG.  Full Article

On The Beach Takes 35 Mln Stg Hit In H1, Flags Impact In H2 from COVID-19
Thursday, 21 May 2020 

May 21 (Reuters) - On The Beach Group PLC ::ON THE BEACH GROUP - COVID-19 TRADING AND FINANCING UPDATE.ON THE BEACH GROUP PLC - CONFIRMS IT HAS ALSO AGREED AN INCREASE TO ITS EXISTING BANKING FACILITIES, IN FORM OF AN INCREMENTAL £25M RCF.ON THE BEACH - LLOYDS AGREED TO FURTHER AMEND EXISTING FINANCIAL COVENANTS, GIVING CO GREATER OPERATING FLEXIBILITY TO SUPPORT INCREMENTAL INVESTMENT.ON THE BEACH GROUP PLC - RECENTLY RENEGOTIATED £50M RCF REMAINS IN PLACE, EXPIRING IN DECEMBER 2023.ON THE BEACH GROUP PLC - BOARD IS OF VIEW THAT VAST MAJORITY OF BOOKINGS TAKEN IN H1 WILL NOT TRAVEL AS PLANNED IN H2.ON THE BEACH GROUP PLC - GROUP'S H2 RESULTS ARE EXPECTED TO BE IMPACTED, DEPENDENT UPON HOW LONG TRAVEL RESTRICTIONS REMAIN IN PLACE..ON THE BEACH GROUP PLC - EXPECTS GROUP'S H1 RESULTS WILL INCLUDE A MATERIAL EXCEPTIONAL CHARGE OF ABOUT £35M.  Full Article

On The Beach suspends FY guidance, To Extend 50 Mln Stg RCF
Wednesday, 8 Apr 2020 

April 8 (Reuters) - On The Beach Group PLC ::ON THE BEACH GROUP - COVID-19 AND BANKING FACILITIES UPDATE.ON THE BEACH GROUP PLC - OTB IS SUSPENDING FULL YEAR GUIDANCE UNTIL SUCH TIME THAT OVERALL IMPACT OF COVID-19 ON GROUP BECOMES CLEARER.ON THE BEACH GROUP PLC - ALSO ANNOUNCES THAT IT WILL NOT BE DECLARING AN INTERIM DIVIDEND IN CURRENT FINANCIAL YEAR TO 30 SEPTEMBER 2020.ON THE BEACH - GROUP'S CEO IS FORGOING HIS SALARY AND REMAINDER OF BOARD HAVE VOLUNTARILY AGREED TO A 20% REDUCTION IN SALARY AND FEES.ON THE BEACH - REACHED DEAL TO: EXTEND £50M RCF TO ALL MONTHS OF EACH YEAR, TERM TO DEC 2023, RESET COVENANT TESTS FOR ALL PERIODS UP TO JUNE 2021.  Full Article

On The Beach Group Sees FY Ending Sept 2020 Results Below Current Market Expectations
Friday, 28 Feb 2020 

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.  Full Article

On The Beach Group Says Expects Proportion Of Marketing Investment Will Payback In Second Half Of Financial Year
Thursday, 6 Feb 2020 

Feb 6 (Reuters) - On The Beach Group PLC ::ON THE BEACH GROUP PLC - MORE THAN DOUBLING OFFLINE MARKETING SPEND TO DRIVE AWARENESS OF ON BEACH BRAND FOLLOWING FAILURE OF THOMAS COOK GROUP.ON THE BEACH GROUP PLC - EXPECTS THAT A PROPORTION OF MARKETING INVESTMENT WILL PAYBACK IN SECOND HALF OF FINANCIAL YEAR.ON THE BEACH GROUP PLC - GROUP HAS ALSO FOCUSED ON PRICE COMPETITIVENESS TO CONTINUE TO DRIVE LONG TERM MARKET SHARE GAINS.ON THE BEACH - REDUCTION IN OVERALL CAPACITY FOLLOWING TCG FAILURE HAS LED TO SIGNIFICANT YEAR ON YEAR SEAT PRICE INCREASES FOR ALL DEPARTURES.ON THE BEACH GROUP PLC - SEAT CAPACITY SHORTFALL IS FURTHER ACCENTUATED BY CONTINUING DELAYS IN BOEING'S 737 MAX AIRCRAFT RETURNING TO ACTIVE SERVICE.  Full Article

On The Beach Says Thomas Cook Collaps To Cost Co 25.6 Mln Stg
Wednesday, 27 Nov 2019 

Nov 27 (Reuters) - On The Beach Group PLC ::PRELIMINARY RESULTS.FY GROUP ADJUSTED PROFIT BEFORE TAX UP 3% TO £34.6M (FY18: £33.6M).FY ADJUSTED GROUP REVENUE £147.5M VERSUS £104.3M.PROPOSED FINAL DIVIDEND OF 2.0P PER SHARE; DIVIDEND MAINTAINED AT 3.3P PER SHARE FOR YEAR.FY GAAP GROUP REVENUE £140.4M VERSUS £104.3M.ONE-OFF EXCEPTIONAL COST ASSOCIATED WITH HELPING THOMAS COOK CUSTOMERS TO ORGANISE TRAVEL ARRANGEMENTS, CANCELLED BOOKINGS LOST MARGIN.ADJUSTMENT OF £7.1M TO REVENUE REPRESENTS LOST REVENUE ASSOCIATED WITH THOMAS COOK GROUP PLC IMPACT.THOMAS COOK GROUP PLC IMPACT TOTALLED £25.6M AND IS STATED NET OF A CHARGEBACK CLAIM OF £18.5M.FY GROUP ADJUSTED PROFIT BEFORE TAX, IN LINE WITH MARKET EXPECTATIONS.FAILURE OF TCG HAS LED TO A MATERIAL SHIFT IN MARKET DYNAMICS AS IT HAD A 20% SHARE OF BEACH HOLIDAY PASSENGERS.FAILURE OF TCG LED TO MATERIAL SHIFT IN MARKET DYNAMICS AS IT HAD APPROXIMATELY 20% OF SEAT CAPACITY TO BEACH HOLIDAY DESTINATIONS.SEARCH DEMAND HAS THEREFORE BEEN STRONG THROUGHOUT PERIOD FOLLOWING TCG FAILURE.EXPECTATION THAT SEAT SUPPLY WILL NORMALISE DURING FY20.LAST YEAR PRESENTED CHALLENGING ENVIRONMENT WITH UNCERTAINTY OVER TIMING AND NATURE OF BREXIT, DEVALUATION OF STERLING AGAINST EURO.  Full Article

On The Beach Group Says Trading Has Remained In Line With Management's Revised FY Expectations
Tuesday, 22 Oct 2019 

Oct 22 (Reuters) - On The Beach Group PLC ::ON THE BEACH GROUP - FULL YEAR TRADING UPDATE.ON THE BEACH GROUP PLC - TRADING HAS REMAINED IN LINE WITH MANAGEMENT'S REVISED EXPECTATIONS FOR FULL YEAR.ON THE BEACH GROUP - LIQUIDATION OF THOMAS COOK HAS CREATED AN OPPORTUNITY TO TAKE ADDITIONAL MARKET SHARE AT AN INCREASED RATE.ON THE BEACH GROUP - STARTED TO "STRATEGICALLY" INCREASE MARKETING INVESTMENT BOTH ONLINE AND OFFLINE.  Full Article

On The Beach Group Says HY Group Revenue £63.5 Mln
Tuesday, 14 May 2019 

May 14 (Reuters) - On The Beach Group PLC ::HY GROUP REVENUE £63.5M VERSUS £45.1M.HY GROUP GROSS PROFIT £47.5M VERSUS £45.1M.HY GROUP PROFIT BEFORE TAX £11.9M VERSUS £10.6M.HY GROUP ADJUSTED PROFIT BEFORE TAX £15.7M VERSUS £13.8M.TOTAL DIVIDEND PAYABLE PER SHARE 1.3P.  Full Article

On The Beach Appoints Richard Pennycook As Non-Executive Chair Of Board
Tuesday, 26 Mar 2019 

March 26 (Reuters) - On The Beach Group Plc ::APPOINTMENT OF CHAIR OF THE BOARD.RICHARD PENNYCOOK HAS BEEN APPOINTED AS NON-EXECUTIVE CHAIR OF BOARD.RICHARD WILL SUCCEED DAVID KELLY, WHO HAS BEEN INTERIM CHAIR OF BOARD AND INTERIM CHAIR OF NOMINATION COMMITTEE.  Full Article