Travelzest sees revenue slip

Travelzest unveiled Friday lower revenues in the online travel group's 2012 results.

Travelzest unveiled Friday lower revenues in the online travel group's 2012 results.

The company posted revenues of £24.1m for the year ended October 31st, down from £25.4m the previous year.

Operating profit from continuing operations were £3.5m compared to £3.7m in 2011.

Travelzest said it expected a good year ahead after significantly reducing operating costs and streamlining its business.

Nigel Jenkins, Non-Executive Chairman, said: "We would like to thank the team for their hard work during this period of change for the group, and look forward to the continued focus on strengthening our strong Canadian operations.

"We believe with a more streamlined business we can look forward with optimism for the year ahead."

The company added it would continue to invest in marketing and expand luxury land based product offerings.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Bitcoin: fool’s gold or the new gold?
Bitcoin

Bitcoin: fool’s gold or the new gold?

With bitcoin hitting new highs last week, and close to becoming a mainstream investment, is it really gold for the 21st century?
15 Jan 2021
The MoneyWeek Podcast: bitcoin special
Bitcoin

The MoneyWeek Podcast: bitcoin special

Merryn talks to bitcoin experts Dominic Frisby and Charlie Morris to get the lowdown on the cryptocurrency to find out why it's such a huge global phe…
15 Jan 2021
Leasehold reforms promise the end of a nightmare for many homeowners
Property

Leasehold reforms promise the end of a nightmare for many homeowners

Horror stories about unscrupulous landlords profiting from a legal relic of the feudal era are about to get a happy ending, says Simon Wilson.
16 Jan 2021