Gullivers reports profit
Gullivers Travel Group Ltd. yesterday reported a fiscal first-half net profit of NZ$5.7 million, and said it remains comfortable with its prospectus forecast for the full year.
New Zealand-based Gullivers, said its net profit for the six months to Sept. 30 is “very pleasing.”
The company didn’t provide a comparable result from the prior year, saying pro-forma figures aren’t available because the company was listed on the local stock exchange late last year.
The profit came from total operating revenue of NZ$284 million, the company said, while earnings before interest, tax, depreciation and amortization were NZ$14 million.
Andrew Bagnall, managing director of Gullivers, said the result is in line with expectations for the full year, and reflects strong demand for international travel as well as tight control of costs throughout all operations.
Bagnall said the company’s “strong financial performance” is expected to continue through the rest of the current fiscal year “provided current operating conditions” remain.
“Directors remain comfortable with the FY 2006 profit forecast as disclosed in the prospectus of November 2004,” the company said, referring to a forecast for a net profit of NZ$8.4 million.
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