The group that includes Sykes Holiday Cottages saw its pre-tax loss widen to almost £75m during its latest financial year, it has been revealed.
Forge Holiday Group, which also includes Forest Holidays, UKCaravans4Hire and Bachcare, has posted a loss of £74.6m for the 12 months to September 30, 2023, compared to a loss of £42.6m in the prior year.
The main activity of Forge Holiday Group is to provide management services to its trading companies as well as arranging finances for acquisition targets.
However, according to newly-filed documents with Companies House, Chester-based Sykes Holiday Cottages saw its own pre-tax profit increase from £20.9m to £26.9m over the same period.
The results also show its revenue increased from £124.6m to £136.5m.
The group is backed by Vitruvian Partners which also counts Travel Counsellors and Trustpilot among its investments.
The private equity firm has previously backed the likes of Just Eat and Skyscanner.
During the year, the average number of people employed by Sykes Holiday Cottages increased from 877 to 981.
For the same financial year, Derbyshire-based Forest Holidays saw its revenue increase from £37.5m to £57.3m while it went from making a pre-tax profit of £4.5m to a loss of £3.4m.
The average number of people Forest Holidays employed also rose from 806 to 898.
Sykes Holiday Cottages formally launched its new parent company, Forge Holiday Group, at the start of May 2023 and is led by its CEO, Graham Donoghue.
In its latest accounts, Sykes Holiday Cottages said its directors are “satisfied with the trading performance and will continue to develop the existing activities of the company”.