MyTravel counts cost of tsunami

MYTRAVEL has revealed the Boxing Day tsunami has cost its northern Europe division £10 million and the UK operation £2 million.

In a statement to the Stock Exchange this morning, MyTravel said the company is still performing in line with its expectations despite the disaster.

It said it is "encouraged” by early bookings which have seen "close to the same number of brochure sales as last year”.

The group, which is holding its annual general meeting today, has fewer holidays to sell this year due to a reduction in capacity.

MyTravel, which rejoined the FTSE 250 index last week, stated it is on target to achieve an operating profit for 2006 and industry-standard margin of 3.5% in the UK for 2007.