A series of announcements from On The Beach this morning, with the Cheadle company set to open a new digital headquarters in Manchester.
The online beach holiday retailer, has also confirmed that non-executive chairman, Richard Segal, is to step down.
He will be replaced by Lee Ginsberg, currently senior independent non-executive director.
“I would like to take this opportunity to thank Richard for his counsel and guidance over the last five years. He led the Group through a period of strong change and growth, as both a private and listed business, and the Board wishes him well in his future endeavours,” said Simon Cooper, chief executive of On the Beach Group plc.
The announcement came as the group reported a 19% increase in revenues over the last 6 months. The £44.4m UK turnover was supported by a 51% growth in international income, with its Swedish operation having the strongest period of growth since its launch.
However, the company took a £1.1m hit due to winter seat availability and seat pricing, following the collapse of Monarch.
Its website unique visitors increased by 23.9% during the period, to 34.1m. The firm also increased the percentage of revenue spent on online marketing to 40.6%.
Cooper explained that this performance had led it to invest in a new digital headquarters in Manchester:
“To support our continued desire to attract and retain the best digital talent, we have signed a lease on a new digital HQ in Manchester which has the capacity to support our growth ambitions. Fit out work will begin shortly and we are scheduled to occupy this exciting new space by the end of 2018.”
