On the Beach suspends guidance as Middle East conflict hits demand; shares slump
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices rise 6% on Iraq tanker attacks, Oman port disruption Oil spikes above $100 a barrel; Adobe to report - what’s moving markets Gold prices dip below $5,200/oz as Iran war boosts oil, dollar Bank of America 2026 oil outlook: New price target issued 🎯 (South Africa Philippines Nigeria) 🎯 On the Beach suspends guidance as Middle East conflict hits demand; shares slump By Author Maria Ponnezhath Earnings Published 03/12/2026, 05:12 AM On the Beach suspends guidance as Middle East conflict hits demand; shares slump 0 OTB -10.16% Investing.com -- On The Beach Group PLC (LON:OTB) suspended its full-year profit guidance on Thursday after experiencing a significant slowdown in demand following the onset of conflict in the Middle East, sending shares down 10.9%. The UK online package holiday specialist had previously guided for adjusted profit before tax of £39 million to £43 million for the full year. The company said the timing of when the conflict will end and the shape of recovery in demand to destinations such as Turkey, Greece, Cyprus and Egypt are unknown, impacting group profitability. Despite limited direct exposure to the Middle East, the conflict has materially affected bookings to surrounding regions. Stay ahead of the FTSE — premium UK stock insights and real-time market movers with InvestingPro The guidance suspension came despite strong trading momentum earlier in the period. For the five months ended February 28, bookings increased 10% YoY, with first quarter traveled volumes up 14% and second quarter traveled volumes surging 34%. Bookings from repeat customers rose 19%, while bookings with less than 90-day lead times grew 28% as the industry’s later booking pattern became more pronounced. "Momentum has been building since we entered 2026, recording our highest ever volume trading day on 1st February and a 34% increase in Q2 travelled/departed volumes," said Chief Executive Shaun Morton. "Fol...
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