THOMSON Travel Group will attempt to regain the confidence of the City with the launch of a multi-million pound e-commerce strategy.
Chief executive Charles Gurassa will also detail the findings of an exhaustive internal review when he presents the group’s year-end results to analysts on Thursday.
After three profit warnings last year, a major e-commerce strategy is seen as critical to reversing the fortunes of the company.
Thomson has indicated that 30% of business could be made via e-commerce by 2003.
“There has been under investment in technology over the past three years and it is clearly of great importance,” said Gurassa.
The market leader refused to give details of the strategy but among the developments will be an Internet supermarket called First Resort which will be launched on March 21.
E-commerce is a big turn-on for the City -ÊAirtours’ shares soared 16% last week on the back of its acquisition of Internet distributor Travel Services International. Airtours will reveal its own e-commerce strategy in April.
Meanwhile, Thomson non-executive director Mark Souhami has announced his intention to quit the board.
Souhami wanted to replace chairman Michael Brown only to see the job given to former Reckitt Benckiser chief executive Vernon Sankey.