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Revenues Climb at PE-backed Holiday Firm

Revenues have climbed by a quarter at Chester-headquartered holiday company Skyes Cottages in the year that it sold a majority stake in the business to a private equity firm.

The latest set of accounts for Sykes Cottages show that the company generated a turnover of £22m in the year to 30 September 2015, up by 26 per cent on a year earlier.

The business also increased the number of properties available for rental during the period, and by the end of the year had a portfolio of 6,214 live properties compared to 5,007 at the end of the prior year.

Meanwhile, pre-tax profits increased by 1 per cent to £3.3m and operating profits fell by 5 per cent to £3.1m.

In January 2015, Sykes Cottages was acquired by private equity firm Livingbridge in a deal that reportedly valued the business at £54m. The transaction was subsequently named North West Business Insider‘s Deal of the Month.

Miles Hill, chief executive at Sykes Cottages, said: “We’re delighted to have partnered with Livingbridge. Read More