News blog
Western & Oriental
- BY: Andrew Hore |
- POSTED: 21/07/2008 |
Western & Oriental says that travel bookings remain in line with expectations but many of these trips are being delayed until the next financial year.
The shares dipped 0.25p to 4.5p following the news. That values the tour operator at £10.3m. There is still around £9m in cash in the balance sheet.
The conference and incentives business remains strong and there is little evidence of cancellations. Margins are being maintained although they had originally been expected to improve. Western & Oriental expects its order book will be worth £25m at the end of September 2008. That represents like-for-like growth of 15%.
Management has cut around £1m from its annualised cost base and it is looking to reduce it further. The cost cutting and restructuring will lead to one-off costs this year. The company is still on course to move into profit in 2008-09.
The acquisitive company is putting its acquisition strategy on hold but it expects to find more acquisition opportunities in the medium-term.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|