"Sluggish profitability" has led analysts to downgrade their expectations of On The Beach's target share price after the company revealed its first-half results.
The Manchester business reported pre-tax losses of £6m in the six months to the end of March this year on a revenue of £73.2m. Its losses were down from £7m in the same period in 2022 while its revenue had grown from £52.9m.
On The Beach's shares fell by over 12% to 111.8p after the results were announced.
