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(29 January 2007)
Travelzest saw its pre-tax profit increase by 597% to £404,000 for the 12 months to the end of October 2006.
The specialists travel firm’s turnover has increased by 70% from £11.3 million to £19.2 million following the purchases of failed Tapestry Holidays, websites holiday.co.uk and flight.co.uk and Canadian online travel agency iTravel2000.com.
It also launched long haul tour operation Fareway Holidays in August last year. It now owns eight businesses including The Best of Morocco and Peng Travel.
Gross profit percentage has increased from 26% in 2005 to 37.8% in 2006.
Chief executive Chris Mottershead said the growth in profits has been achieved through focusing on online and specialists travel, the two areas of the travel industry with the greatest potential.
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