On the Beach Group (LSE:OTB) shares plunged 15.7% to 143.0p after the company reinstated FY26 adjusted PBT guidance in a first-half update.
The UK online package holiday specialist reported record booking volumes of 324,000 (up 7%), booked TTV +2% and adjusted revenue of £52.9m (down £6.4m), while travelled volumes rose 22%.
"As a result, we have today reinstated guidance and the Board is confident in delivering FY26 Adjusted PBT in the range of £18m to £25m," Shaun Morton, Chief Executive, said.
Adjusted EBITDA fell to £6.4m (H1 25: £12.8m) as adjusted PBT dropped to £2.3m and the group kept marketing and overheads broadly flat.
The balance sheet remains strong with net debt reduced by £2m, £209.9m held in the customer trust account and c.£88m of available headroom, and the board declared a 1.0p interim dividend, unchanged year-on-year.
Management highlighted strategic progress with conversion up 24%, app monthly active users +29%, app bookings 38% of mix, city bookings +116% and Republic of Ireland volumes +74%.
Bookings in the six weeks since the half year are +9% and the group said it continues to trade profitably and generate cash.
