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Holidaybreak losses widen as the weak pound takes its toll
TRAVEL firm Holidaybreak yesterday reported half year losses had doubled at the group, but said current trading remains within expectations.
The pre-tax loss for the six months ended 31 March 2009 jumped to £36.6m from £18.2m a year ago on revenue down to £153.2m from £156m.
The group said demand for trips at its adventure travel arm Explore, which it acquired in 2000, has fallen 16 per cent due to the weak pound.
Holidaybreak said that it has reduced operating costs by £1m and further restructuring over the coming months will ensure the business will be able to trade profitably.
The group added trading was improving as a result of improved offers from suppliers in the form of lower room rates and train fares.