Annual Report and Accounts 2001
Contents
Chairman's Statement
Chief Executive's Review
Finance Director's Review
Camping Division
Hotel Breaks
Adventure Holidays
Directors' Report
Investor Relations
Directors and Advisors
Corporate Governance
Internal Control
Other Information
Remuneration Committee
Report Share Option Schemes
Report by the Auditors
Consolidated Profit & Loss Account
Balance Sheets
Consolidated Cashflow Statement
Statement of Accounting Policies
Notes to the Accounts
Notice of Annual General Meeting
Holiday Brochure Requests
Camping Division
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Camping

Our Camping Division remains the principal profits engine of the group, accounting for 54% of sales and 67% of operating profits in 2001. Consistent performance each year has underpinned the profitability of the group as a whole and provided a firm foundation for expansion and diversification.

Original and largest part of the Group - 54% of total 2001 sales

Two market leading brands - Eurocamp and Keycamp plus Eurovillages (self-catering) and Eurocamp Independent (camp-site booking service)

Pre-sited mobile-homes and tents on quality camp-sites in France, Italy and six other European countries

Courier and children's activity service

Tailor made packages - any day to any day

Self-drive holidays - ferry inclusive from UK

Mainly direct sell but some retail agent sales

Customers from nine countries (mainly UK, Germany and Holland)

Mid to upper income, family customer base

Operating profit for 2001 increased by 5% to £17.9m and margins improved once again as the trend away from tents to more profitable mobile-homes continued and effective yield management enabled us to optimise the balance between markets.

In 2000 the UK market was held back by the effects of the Brittany oil spill but in 2001 it was the strongest performer with overall bookings up 10%. Demand for peak season holidays in the UK was particularly buoyant resulting in healthy average sales values and excellent occupancy rates in July and August, counterbalancing some weakness in low season. A recent development has been for some UK customers to use the low cost airline services and car hire to reach their campsites in Italy, Spain and the South of France. We expect this to be a continuing trend.

Mobile-home holidays grew by 12% in the UK and 9% overall. The continuing shift in consumer preferences to mobile-home accommodation was reflected in an innovative new marketing campaign launched by Eurocamp which included TV advertising for the first time. Keycamp also tested TV advertising, aiming to raise awareness amongst retail travel agency customers as well as promote direct sales.

 

Camping Division
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