Holidaybreak to dodge slumps with school trips

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Today it posted a 9% rise in annual profit to £30.7 million, on revenues down 2.5% to £461.7 million.

"Growth in profitability reflects continued shift towards our education businesses, which are less exposed to discretionary spending," the company said.

Mark Brumby at Langton Capital said: "The growing burden of regulation, etc, regarding school/student trips should drive business towards the industry majors and Holidaybreak is relatively well-positioned in this space."

Holidaybreak, whose education unit provides study tours for schoolchildren, said the division agreed to buy a 50% stake in a German student and school tour accommodation group Meininger for about 36.5 million (£30.78 million).