Datalex pre-tax losses at $2.1m

Travel industry booking services provider Datalex has posted pre-tax losses of $2.1m (€1.48m) for 2010, an improvement on equivalent losses of $4.5m (€3.18m) for 2009.

Revenue for the 12 months to end December was $26.8m (€18.95m), down 1% from 2009.

The company said "good progress" had been achieved, most notably what it called the significant growth in EBITDA to $3.1m (€2.2m), from $0.1m in 2009 (€0.07m) and the positive generation of cash of $0.6m (€0.42m), compared to a 2009 cash reduction of $4.2m (€2.97m).

The company said that in overall terms, the travel industry in 2010 "gradually began to emerge from the difficulties of the previous year’s economic collapse".

However, it said, the decline in 2009 was so large, it will likely be mid 2011 before traffic is back to 2008 levels.

Datalex said that despite an uncertain global economic outlook and oil price volatility it maintained an optimistic outlook on 2011 and expected net business growth in the year.