- Travel company On the Beach Group warned that it expected to deliver a full-year result below its expectations, as a weaker pound increased its costs.

The company said the pound had significantly devalued against the euro thanks to the increased likelihood of a no deal Brexit.

Demand had nevertheless strengthened in the second half, even though a weaker pound makes it more expensive for UK residents to travel to Europe.

However, the company said the weaker pound also lead to a significant rise in prices.

'As On the Beach remains focused on profitable growth, these relative price increases make it difficult for the group to gain share of market while maintaining margins,' it added.

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