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BREAKING NEWS

Online travel agent On The Beach warns on full-year due to sterling slide

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(Reuters) – Online travel agent On The Beach Group Plc warned on Friday that its full year performance would be below its own forecasts, saying a fall in the value of the pound had led to a significant increase in its prices.

Shares in the British-based company fell more than 15% to 380 pence at 0740 GMT as it said higher prices made it tough to gain market share “versus full risk competitors with currency hedges” while maintaining margins.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Alexander Smith)

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