Online holiday retailer On the Beach saw its revenue sink in the six months to March 2021 as lockdown restrictions hit sales.
The company posted an adjusted group revenue of £12m during the half year, some 77 per cent lower than the £52.8m reported in the same period in 2020.
Group gross profit also plunged by 71 per cent to £10.8m due to suppressed consumer demand for booking holidays.
On the Beach narrowed its pre-tax loss during the period to £9.5m compared to £34.1m a year earlier.
When the government’s roadmap out of lockdown was announced in February, there was a theoretical restart date for travel on 17 May.
On the Beach said it has been forced to navigate uncertainties, but remains confident that it is well positioned to grow as demand for holidays recovers.
“Whilst this recovery is likely to take some time and the consumer environment will continue to be challenging, the differentiating features of our business model, combined with the actions taken during the pandemic, position us very strongly for successful and sustained growth as we move out of this extended period of disruption,” said Simon Cooper, chief executive of On the Beach.