p14 City mar27 25/3/09 14:05 Page 14
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Cook reports
Teletext reduces
stronger sales
THE TREND towards later bookings losses to £4.9m
produced an increase in business
for Thomas Cook over the past
Chris Gray.
ber 30 last year, against with a 23% fall the pre-
month. TELETEXT made a £4.9m pre-tax loss last year, vious year. The pre-tax loss compared with a
In a trading update, Cook said with revenues dropping nearly 12% as £5.8m loss the year before.
winter bookings in the last two the credit crunch heightened the impact of Teletext’s operating loss was £4.7m in the year
weeks of February and first two weeks competition from digital television, the internet to end of September 2008, a 33% reduction on
of March were up 9% on the previous year. That and mobile services. the previous year, when the loss was £7m.
compared to a 5% decline in bookings for the But the company said travel would be the key The company said it would continue its
year so far. sector in returning it to profit, as it provided strategy of developing services on digital TV,
Average selling prices for winter holidays were 80% of the firm’s revenue on TV and online. the internet and mobile phones to return to a
13% up in the four-week period, compared with A directors’ report on accounts filed on profit that could be “sustained once analogue
7% for the year so far. March 10 stated that Teletext would develop its television services are switched off in 2013”.
Summer bookings remained behind last year ThisisTravel retail operation, which has attracted Its Teletext Extra service, available through
(11% down) but had strengthened in the same criticism for allegedly being in competition with Freeview, had reached five million consumers by
four weeks, which were only 6% down. Teletext’s own advertisers. September last year and the report forecast
Cook had 14% fewer summer holidays left The report said the ThisisTravel steady growth.
to sell than at this time last year, and had sold brand would be developed through During the year, Teletext’s sister
52% of its capacity. Its overall capacity was 11% the newspapers and websites of its company, Teletext Holdings, wrote off
down on last year. parent group, Daily Mail and £18m in loans owed by Teletext.
All-inclusive accounted for 40% of summer General Trust. They also reveal
bookings so far, a nine percentage point increase, The company, which that Teletext’s high-
and the previous four weeks had seen a 49% operates Teletext Hol- est paid director was
year-on-year increase in bookings. idays on TV and the awarded a salary of
Medium-haul demand was particularly strong internet, said it had £370,232, up from
Pre-tax loss 2008 £4.9m
to Turkey, which is outside the eurozone. managed to slow the £336,521 the previ-
Pre-tax loss 2007 £5.8m
rate of decline and ous year, plus pen-
reduce the size of
Revenue 2008 down 11.9%
sion contributions
HRG closes its
annual losses. It has
Revenue 2007 down 23%
of £104,000, up
cut 43 staff in the
Operating loss 2008 £4.7m
from £101,760.
events division
year and is making up
Operating loss 2007 £7m
Teletext manag-
to 16 more redundant. ing director Mike
Revenue fell 11.9% in Stewart declined to
HRG HAS closed its event management agency, the 12 months to Septem- comment.
Powerwaves.
Bosses at the travel management company
said the decision had been made in light of the
deepening recession. Tui steps in after
300 forward bookings. Abta said customers who
were on placements and held forward bookings
Four members of staff are set to be made
redundant, though each has been invited to
Gap-year collapse
would need to pay again to take their holiday
with Real Gap, and then apply for compensation.
apply for other positions within the company. A spokeswoman said Abta expected to settle
An HRG statement said: “HRG is constantly TUI SUBSIDIARY Real Gap has bought the right all claims within weeks.
reviewing its operations, like all prudent global to run programmes previously operated by Real Gap said that as the largest gap year and
corporations, and the recent restructure has the Ethical Travel Group Ltd, which went into volunteer travel provider, it was “best placed to
allowed the company to focus on its core administration last week. step into the breach”.
business – corporate travel services.” Abta member Ethical Travel, which traded as It said it would be able to supply the same
The company’s financial results are due on Global Xperience, went into administration with programmes or suitable alternatives, and had
March 31. about 150 teenagers on placements abroad and the backing of a secure parent company.
14 27.03.2009
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