One of the UK’s leading holiday companies, First Choice, has announced gains in its first half results.

Reporting its figures for the six months ended 30 April, the company said it had managed to cut pre-tax losses down to £50.9m – compared with a loss of £55.1m the year before.

The most dramatic turnaround was experienced at the company’s specialist holidays arm, which returned profits of £1.9m – a stark contrast to last year’s loss of £1.4m in the same period.

Peter Long, chief executive, said: “In our mainstream holiday sector, we are focused on generating higher quality earnings through the growth of medium and long-haul destinations and the reduction of short-haul capacity.

“Trading across our specialist sectors is in line with our expectations. Although mainstream holiday market remains challenging, our performance in May and June in this sector is in line with expectations.”

First Choice also said that it was looking to scrap its flight only business, while developing its exclusive portfolio, including the company’s holiday village concept.

The company operates the Falcon, JWT, Trek America, Sunsail, Hayes & Jarvis and Sovereign brands.