First Choice Holidays Upbeat About Sustainable Growth in 2007

UK’s First Choice Holidays has shared that its full-year pre-tax profits were up two percent on last year to £117.2 million.

The company, which is in talks with a number of parties over the possible sale of its package holiday business, shared that its net income rose to 72 million pounds ($141.8 million), or 13.7 pence a share, in the 12 months ended October this year, from 70.1 million pounds, or 13.5 pence, a year earlier. Sales climbed 11 percent to 2.7 billion pounds.

“There can be no certainty that any transaction will be forthcoming. However, I remain confident, whatever the outcome, that our strategy and flexible business model will ensure that we are well placed to continue to outperform the market and deliver sustainable growth in 2007 and beyond,” said chairman Michael Hodgkinson.

As per the information available, in the current trading for winter 2006/7, mainstream holiday revenue rose 15 percent, against the market’s nine percent fall, as long-haul revenues and bookings rose 40 percent and 26 percent respectively.