USIT’s pre-tax profits under €1m

STUDENT travel group, USIT saw pre-tax profits fall slightly to just below €1 million for the first time in three years.

Accounts just filed by the company, which was rescued from examinership in 2002 after it collapsed in the wake of the September 11 attacks, show pre-tax profits fell from €1.5m to €994,227 in the year to the end of October 2008.

The directors said they are satisfied that the group business plan will withstand any risks and uncertainties that may arise.