Hostelworld Group PLC - Dublin-based hostel booking company - Records revenue of €51.5 million for the six months ended on June 30, up 57% year-on-year. Net revenue was €28.0 million for the same period a year earlier. Reports net bookings of 3.4 million, up 64% year-on-year. Says this is driven by strong performances in key European, Asian and Oceania markets. Looking ahead, the firm backs earnings guidance of adjusted earnings before interest, tax, depreciation and amortisation in the range of €16.5 million to €17 million for 2023. For 2022, adjusted Ebitda was just €1.3 million.

Chief Executive Officer Gary Morrison says: ‘I am very proud of our performance for the year to date. In particular, I am delighted that we have delivered record generated revenues and improving Ebitda margins driven by our differentiated social growth strategy and a continuing focus on operational excellence and cost discipline.’

In March, the firm said pretax loss was €17.9 million for 2022, narrowing from €36.7 million the year prior as full-year revenue multiplied to €69.7 million from €16.9 million in 2021.

Current stock price: 125.00 pence each, up 3.3% on Wednesday morning in London

12-month change: up 36%

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