Shearings posts fourth successive growth year

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Shearings Leisure Group has announced record trading results for its latest financial year.

The group – which includes the Shearings Holidays, National Holidays and the Coast & Country and Bay hotel brands – grew sales, profits and passenger numbers over the 12 months to December 2016, its fourth successive year of growth.

Revenue increased 3% to £207.2m (2015: £200.8m) alongside patronage growth of 4% to 1.12m (2015: 1.08m). Underlying profit (adjusted EBITDA) increased 13% to £10.3m (2015: £9.1m).

The group also said it had continued to invest significantly in its hotel portfolio, having spent £4.6m on room and facility upgrades during the year, taking its three-year total to almost £13m. Further investments were also made in its coach fleet and IT infrastructure.

Earlier this year, Shearings Leisure Group appointed former President and CEO of US-based global holiday group Celebration Travel Group, Richard Calvert, as Chief Executive Officer.

He said the Group planned to build on the record performance by investing in its brands, hotels and its digital platform to create easier and faster ways to book.

Richard added: “The kind of short breaks and holidays that today’s over 50s want has changed beyond recognition.

“We’re healthier and more adventurous than ever, and as interested in walking holidays in Austria and river cruises on the Rhine as hotel breaks on the Cornish coast.

“We’re continuing to listen to our million customers and evolve our offering to reflect the over 50s market in the broadest sense, providing a wider range of exciting locations and activities across each of our brands, underpinned by a common commitment to great quality, value and service.

“What is unique about the Group is the pride, passion and knowledge of our people in what is a diverse,expanding and evolving part of the holiday market. We also have a family of trusted brands with enormous heritage and equity with our customers, which give us a strong platform to build on.”