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First Choice issues upbeat trading statement
Bookings are showing strong year on year volume growth for First Choice.
In a trading statement issued today, the company said: “Our strategy of product differentiation across the sectors and the remixing of our destination focus in the mainstream holidays sector is resulting in earlier bookings and strong year on year volume growth.
“Our margins continue to be ahead of last year and we remain confident that trading will be in line with expectations.”
Long haul sales are doing best, with sales for summer 2005 up 30%, while medium haul is up 26% and short haul up 9%, giving an overall rise of 21%. Sales in the groups’ specialist businesses are up by 33%.
Online sales growth is up by 149% while Island Cruises – the joint venture with Royal Caribbean International – has seen a 29% rise.
ABN AMRO analyst Simon LArkin, quoted by Reuters, said: “Bookings are stronger than we expected, margins are stronger than expected, they are 5% better sold year-on-year. It’s difficult to interpret this trading statement as anything other than extremely good.”
Report by Phil Davies
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