Amadeus announces profit rise

Technology supplier Amadeus has announced a 12.2% rise in profits to €263.7m for the first half of the year, backed by a 3.9% rise in revenue.

Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group during 2010, and the impact of a change in the way certain bookings within IT Solutions are treated, revenue grew by 5.8%.

During the second quarter of the year, Amadeus refinanced its debt with new €2.7bn senior unsecured financing.

The company increased its global market share of  flight bookings from travel agencies by 0.8 percentage points during the first half of the year to 37.2%, maintaining its leadership position.

President and CEO Luis Maroto said: "This has been a positive and active first half of the year.

"At an operational level, both our Distribution and IT Solutions businesses continued to grow and in particular had significant successes in the Asia-Pacific region, adding further visibility to our future growth."


By Linsey McNeill

 

Thursday, August 4, 2011

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