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ebookers reports strong Q1 results
The online travel sector got more good news yesterday when ebookers revealed that its pre-tax losses had narrowed during the first quarter of the year.
Pre-tax losses for the first three months of 2002 fell 40% quarter on quarter and 59% year on year to £3.5million. Gross sales were up 54% quarter on quarter to £61million, compared to £39million for the last three months of 2001.
Chief executive Dinesh Dhamija (left) said that the company was seeing the benefits of its acquisitions which include La Compagnie Des Voyages in France in August 1999, Flightbookers plc in November 2000 and MrJet in the Nordics in March 2001. He claimed: “These acquisitions have given us the best online merchant product range in Europe, offering major discounts to our customers. This acquisition and integration process was made easier by the long experience of our management in European travel.”
Mr Dhamija added: “We are now in a strong position to enter another period of consolidation and are considering the acquisition potential of further substantial companies in Europe, on the basis that these support the group’s profitability targets.”
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