FIRST Choice has dismissed claims from Thomson that the market, and not just its own performance, is suffering from tough trading conditions.
Chairman Ian Clubb said the business was on course to hit its predicted year-end profits of £60m, excluding a £7m investment in retail and further unquantified acquisition costs and fees associated with the Kuoni and Airtours sagas.
Clubb added that First Choice has achieved 97% of 1999 forecast sales with summer 2000 sales currently 22% ahead of last year.
Bookings for 1999/2000 are currently 13% ahead, although Clubb did admit that millennium sales have slowed down.
“While Peter Long and I have been swimming through all the corporate issues, Dermot Blastland, along with his team, have done an excellent job in running the business,” said Clubb.
Meanwhile, Clubb said the company wanted to pursue its long-term strategies “without further disruption” following the European Commission’s rejection of Airtours’ bid for the company. It now plans to focus on expansion across Europe with Germany and Italy the prime targets for acquisitions.