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Last Updated: Thursday, 14 December 2006, 11:07 GMT
MyTravel makes return to profit
Holidaymakers on the beach
MyTravel has been facing increased competition in the UK market
UK holiday company MyTravel has returned to profit for the first time since 2001 after cutting both costs and the number of holidays it sells.

It made a pre-tax profit of 43.8m ($86.3m) in the year to 31 October as European sales offset a UK loss.

Despite the better figures, MyTravel said market conditions remained challenging as it battled competition from internet-based and budget rivals.

MyTravel said it was mulling options including acquisitions to lift profits.

In November, MyTravel confirmed press speculation that it was in talks with First Choice Holidays over the possible acquisition of First Choice's Mainstream business.

In its results statement, MyTravel said that the deal remained an option.

"The possible acquisition of First Choice's Mainstream business and certain related operations is one of a number of opportunities we are evaluating," said chief executive Peter McHugh.

MyTravel added that the winter season remained challenging and that UK bookings for summer 2007 had started slowly.

MyTravel 'in First Choice talks'
26 Nov 06 |  Business
UK trade still tough for MyTravel
01 Nov 06 |  Business
Travel firm fined over false ads
09 Nov 06 |  England
MyTravel recovery as losses cut
15 Jun 06 |  Business
First Choice weathers tough year
08 Dec 05 |  Business
Long-haul boost for First Choice
26 Oct 05 |  Business

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