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OTC gets a positive result
OTC recorded its first positive EBITDA in 2002.
The online agency has reported EBDITA (Earnings Before Interest, Depreciation, Tax and Amortisation) of £2 million in the year to 31 October 2002. The EBDITA was boosted by a 48 percent increase in sales to £85.5 million.
OTC also grew significantly through acquisition during 2002, with the purchase of Travelstore.com in June and All-Hotels in September.
Read our previous stories:
14-Jan-2003 Interview: Online Travel Corporation chief executive, Mark Jones
23-Dec-2002 OTC to supply Priceline
04-Dec-2002 OTC makes move to business travel
20-Nov-2002 OTC will expand through licensing
25-Sept-2002 OTC adds 60,000 hotels through acquisition
20-Aug-2002 OTC set for Asia Pacific expansion after Australian acquisition
08-Jul-2002 OTC reduces first half losses
05-Jul-2002 OTC takeover talks off – for now
04-Jul-2002 Lastminute to buy OTC?
11-Jun-2002 The TravelMole Interview: Mark Jones, Online Travel Corporation
10-Jun-2002 OTC snaps up Travelstore.com for £2.1million
15-May-2002 OTC offers tailor-made holidays online
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