Expansion costs hit hostelworld profits

Expansion costs at the firm that operates hostelworld.com last year hit profits at the online travel business.

Figures lodged with the Companies Office show the group last year recorded an operating profit of €13.71m before non-cash depreciation and amortisation costs of €14m are taken into account.

This followed an operating profit of €22.4m in 2012 before the €13.4m depreciation and amortisation costs.