On the Seashore Group has seen losses slender because it stories its monetary outcomes for the yr.
The corporate, which took journeys off sale for almost all of the summer time, reported a lack of £37 million for monetary 2021, in comparison with a lack of £46 million the earlier yr.
Income additionally fell, all the way down to £21 million in 2021 from £33 million in 2020.
Simon Cooper, chief govt of On the Seashore Group, commented: “The disruption brought on by Covid-19 has lasted longer than anybody would have anticipated, and the journey trade has been, and continues to be, one of many hardest hit.
“Whereas our buying and selling efficiency has clearly suffered, our profitable putting this yr is testomony to the assist from our shareholders who see the long-term worth of On the Seashore and it ensures we’re nicely positioned because the market begins to normalise.”
The corporate mentioned it had £56 million readily available on the finish of September, excluding £39 million of buyer monies held in a ring-fenced belief account.
“The form of restoration for the sector stays unsure as a result of continued Covid-19 evolution and subsequent governmental responses,” added Cooper.
“The versatile, asset mild nature of our enterprise mannequin and use of our ring-fenced belief account, alongside the work the group has finished over the past yr, means we’re prepared for 2022.”
