EBOOKERS is on target to hit full-year profits of £2
million following an improved first half performance.
Losses before tax for the six months to the end of June were
slashed from £1.1 million last year to £200,000 in
2004.
Gross sales for the six months increased by 30% from £227
million to £295 million. Online gross sales for the six months
increased by 71%, while web generated gross sales – transactions
generated online but fulfilled over the telephone – rose by
41%.
Chief financial officer Michael Healy said the results, which
included the traditionally weak second quarter, were “encouraging”,
despite a slow market for mid- and long-haul travel in June due to
the European Football Championships in Portugal.
He said strong July and August sales made him “confident” the
online agency will hit analysts’ full-year profit predictions of
£2 million.
Ebookers lost nearly a third of its stock market value in July
when Healy revised profit expectations after taking over from Nigel
Addison Smith as chief financial officer.
Meanwhile Ebookers group commercial director and executive
director Peter Liney has left the company.
Chief executive officer and chairman Dinesh Dhamija said Liney
has left to “pursue new challenges” after “completing the first
phrase of the integration process” following the acquisition of
Travelbag in February 2003.
Former UK managing director Liney took position of commercial
director in March following a company-wide restructure.