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10/08/2010
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YOUTRAVEL.COM SEES PROFITS SOAR 
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Accommodation specialist youtravel.com has reported that it has seen an improvement of more than EUR1 million in its third year of trading.
In the year to October 2009 youtravel.com saw EBITDA of Eur328,000 – up from a loss of Eur846,000 the previous year.
Group managing director Graham Nichols said: “We are delighted with this result, to make a profit in our third year in this challenging trading environment is a huge achievement. The 2009 group results (to year end October) showed excellent progress overall from previous years as we continued to grow turnover and manage our cost base.
“In 2010 this progress has continued and, despite the impact of the volcanic ash saga on the whole of the travel industry, the group is on course to make a profit of €1-€2m this year. This is, of course, after making the appropriate TOMS VAT payments as principal.”
Youtravel.com recently announced a new major shareholder, His Highness Sheikh Tahnoon Bin Saeed Al Nahayan, a member of the royal family of Abu Dhabi.
Nichols added: “This will ensure that the group is funded appropriately as we move into our fourth full-year as the UK’s leading independent bed-bank.”
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(EN)
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