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

Holidaybreak is the UK's leading operator of specialist holiday businesses. Group companies retain a distinctive identity whilst sharing expertise and exploiting opportunities in areas of common interest. Our aim is to achieve continuing profitable growth by developing our existing businesses and market leading brands in the UK and European holiday markets and through acquisitions within the travel sector.
Financial Highlights
  • Record sales of £192.5m (2000:£164.5m)
  • Record profits before tax of £23.8m* (2000: £20.7m)
  • Record earnings per share of 38.1p*, up 12% on 2000 (34.0p)
  • Increase in annual dividend for fifth successive year to 18.0p (2000:16.0p)
  • Interest cover increased to 8.6 times (2000: 7.7)
  • Profits impact of 11th September estimated at £160,000
  • £39.7m cash flow from operating activities
  • Net debt significantly reduced to £25.1m (2000: £32.2m)

* Before goodwill amortisation and exceptional operating costs

Our Year in Summary

  • All businesses performed well in 2001
  • Significant increase in shareholder value
  • Outstanding year for Hotel Breaks
  • Consistent performance by Camping
  • Pleasing progress from Adventure Division in first full year in the Group
  • September 11th aftermath only likely to affect Adventure Holidays