On The Beach report that booking volumes in October and November 2020 were “significantly below normal levels” as consumer appetite for booking holidays remained subdued.
The company full-year revenue of £71.2m, -£37.5m when adjusted for the pandemic.
The group said that, despite the disruption, its liquidity position remained “strong”. Total cash at 30 September was £36.5m (excluding customer monies held in Trust of £25.8m) and had risen to £51m at 30 November 2020.
Simon Cooper, CEO, On The Beach, said: "There is no doubt that 2020 has significantly impacted the entire global travel industry and that the effects of the pandemic will have lasting impacts on the way the industry conducts business for many years to come.
"On the Beach continues to successfully build a leading position as more consumers discover the ease of use and vast choice of beach holidays across our platforms. The flexibility and asset light nature of our business model together with our recently strengthened balance sheet and the actions we have taken since the middle of March means we are well placed to capitalise on the inevitable structural changes in the market post Covid-19. As a result, the Board continues to look to the future with confidence."