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.<br /><br />The pre-tax loss for the six months ended 31 March 2009 jumped to &pound;36.6m from &pound;18.2m a year ago on revenue down to &pound;153.2m from &pound;156m.<br /><br />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.<br /><br />Holidaybreak said that it has reduced operating costs by &pound;1m and further restructuring over the coming months will ensure the business will be able to trade profitably.<br /><br />The group added trading was improving as a result of improved offers from suppliers in the form of lower room rates and train fares.