Online travel group Travelzest has reported a strong set of preliminary results for the year ending October 31, 2007.
Group turnover for the year was £38.5 million compared to £19.2 million in 2006. Pre-tax profit for the year was £874,000 for 2007 compared to £190,000 for 2006.
Chief executive Chris Mottershead said: “We have demonstrated the consistent delivery of the group’s objectives and I believe we are well placed to capitalise on the continued growth of online leisure travel and specialist niche tour operations.”
The group pointed out that its underlying profit before tax, goodwill amortisation and share based payments increased from £0.9 million for 2006 to £3.2 million for 2007.
It is the first time Travelzest has generated an operating profit in both the first and second half of the year.
During the year th group acquired four specialist tour operators – Tapestry Collection, Wow House Company, Captivating Cuba and JMB Travel Consultants.
Chairman Mark Molyneux said the group would continue on the acquisition trail. “Travelzest will continue to acquire online agency businesses and niche tour operators. We are constantly assessing potential targets using a very strict set of criteria.”