Western & Oriental’s travel division’s sales are up by 28% for the first half of its financial year to the end of March 2010, the operator reported in its latest trading update.
The growth was significantly ahead of expectations, which the operator put down to resilient volumes and improving consumer confidence.
Forward booking values moved up from £1.3 million at the start of the half year to £19.8 million, which the company believes reflects improving consumer confidence.
This figure was helped by the time of year and a reported shift back to 90 days plus lead-in times.
Revenue from its travel interests was projected to show 8% growth at the end of the year and continue growing at single-digit pace thereafter.
W&O Events was performing below last year which was in line with expectations but was mitigated by cost control measures.
Overall, the group’s sales rose by 11% and added it planned to “invest in organic growth initiatives” and has raised close to £2 million capital to achieve this.