MyTravel overcomes setbacks to progress

Tour operator MyTravel said it made “strong progress” last year despite terrorist attacks, hurricanes and soaring fuel prices.

MyTravel said bookings to Mexico were down after Hurricane Wilma, while the bombings in Sharm El-Sheikh in Egypt and increases in the cost of fuel cost it £16.2m (€23.9m) and £47.3m (€69.7m) respectively.

But despite the tough conditions, operating profits for the year ended October 31 were up £42.3m (€62.4m) to £55.2m (€81.4m).

Pre-tax losses after exceptional items, including restructuring costs as bosses continue to turn the company around, were £18.3m (€27m) compared with £153.4m (€226.1m) the year before.

Chief executive Peter McHugh said: “All in all it has been a good year for MyTravel. Our turnaround is on course and the outlook for 2006 is positive.”