AMERICAN Express Travel Services division achieved record second quarter earnings for the three months to the end of June.
The division reported a net income of $411m, an increase of 14% on the same period last year. The figure boosted the Amex group’s earnings to $646m, up from $578m for the same period in 1998. Amex has expanded its corporate travel presence in Hong Kong by forming a joint venture with travel agency Farrington Travel.
The new venture will be called Farrington American Express Travel Services.
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