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OntheBeach - Cash rises to 45p a share

January 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • OTB
  • Price:
  • 170p
OTB exploded upwards after its FY23 results delivered record total transaction values (TTV) of c.£1.07bn, up 26%, driven by growth in both volumes and average booking values. Revenue of £170.2m was +19% higher and pretax profit was £23.6m, up from £14.2m. Corresponding eps rocketed from 6.4p to 11.6p. Excluding customer deposits, it closed the year with £76m cash (45p a share) so the dividend is reinstated. OTB is clearly a much stronger business than it was pre-pandemic, with direct bookings in FY23 at 91% of sales. In H1 this year it front end loaded marketing with total marketing costs as a % of revenue amounting to 53%  (although by the full year this was down to 40%) so when the turn came, TTVs bloomed across not just the his ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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