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MyTravel delays results
MyTravel has postponed the announcement of its financial results following ongoing discussions with banks over its credit facility.
MyTravel says it will announce results for the year ended 30 September 2002, once it has reached a deal with the banks involved. The auditors, Deloitte and Touche cannot sign off the accounts until an extension of the £250 million credit facility has been secured.
A statement said: “The Company is in well advanced discussions with its lending banks to provide an extension of its revolving credit facility and commitments for certain other facilities.
“The Company expects to sign agreements shortly. The preliminary announcement will be released immediately thereafter.”
FT.com reported that MyTravel shares dropped 17 percent to 27.5 pence following the announcement this morning.
Read our previous stories:
22-Nov-2002 Lastminute records first profit
05-Nov-2002 Comment on MyTravel, by Jeremy Skidmore
28-Oct-2002 MyTravel tries to quell ‘consumer hysteria’
21-Oct-2002 Carrick makes robust defence of MyTravel
18-Oct-2002 Rivals consider switching off MyTravel
08-Oct-2002 Byrne to leave MyTravel
30-Sept-2002 MyTravel issues profit warning despite positive bookings
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