On the Beach grows revenue as former chairman steps down
On the Beach Group has posted strong revenue growth while former chairman Lee Ginsberg has retired from the company’s board.
The online travel agency reported core UK revenue growth after all marketing costs of more than 20 per cent for the four-month period to 31st January.
In a statement to the London Stock Exchange, On the Beach Group said non-executive director Ginsberg will retire from the company with immediate effect in order to focus on other commitments.
Ginsberg, who has served on the company's board since its initial public offering in 2015, stepped down as chairman in November despite having only been in the role for a few months.
Last month Ginsberg resigned as deputy chairman of troubled bakery group Patisserie Holdings, which has entered administration following evidence of accounting fraud within the company.
On the Beach Group said it had observed “strong mobile traffic and conversion growth” in recent months.
"The first four months of the new financial year has delivered another solid period of growth for the Group,” said CEO Simon Cooper.
“Our strategy of investing in our brands, talent and technology to drive growth has delivered performance in line with the board's expectations, with both new and repeat customers attracted to our wide range of value for money beach holidays.”
Last year On the Beach Group officially opened its beach-themed office in Ancoats following a multimillion-pound design and re-fit.
The building contains a 250-seat auditorium, a games room and beach bar as well as break-out rooms and a virtual aquarium.
It also has a user experience testing lab and development team pods which are designed to promote agile working and innovation.
The online travel agent has relocated most of its business operations to former aircraft components factory the Aeroworks building. However its contact centre will remain at its previous HQ at Park Square in Cheadle, which also underwent a major redesign.
On the Beach Group posted strong profit growth and annual turnover of more than £100 million last year.
It is currently searching for a new chair of the board to replace interim chair David Kelly as well as an additional non-executive director.