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Demand drives sales at PGL Travel

Demand - Customer retention and strong demand - SantanderCB

Customer retention and strong demand for its services have pushed sales up by almost £10m at Herefordshire-headquartered adventure holiday provider PGL Travel. The majority of sales (£71.1m) were generated in the UK, with revenues from PGL's adventure centres increasing by 14%. The group's overseas adventures business grew by 6%, while its schools skiing division soared by 83% due to the timing of Easter. A directors' statement accompanying the results said PGL expects to spend £15.5m on its outdoor education centres in 2015/16 and the group will 'continue to review opportunities' for new sites in the short to medium-term. PGL has been part of Holidaybreak, which was taken private in 2011 after being taken over by Indian conglomerate Cox & Kings in a £312m deal, since 2007. Last September, Holidaybreak completed a £245m refinancing with a six-party syndicate to support the growth of the PGL, Meininger and Superbreak brands. The deal was agreed with Lloyds Bank Commercial Banking, Santander, Barclays, HSBC, Royal Bank of Scotland and M&G Investments.

 

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