Club Med sales up 14.6% in Q1
C lub Mediterranean said Thursday expect a significant increase in trading profit (ROC) of villages throughout the winter despite a shortfall of 5 to 8,000,000 euros related to the political situation in Tunisia and Egypt.
The leisure group has reported in a statement to an increase of 14.6% of turnover for the period from November to late January to 337 million euros.
Turnover villages grew by 9.5% at constant exchange rates, reflecting, as the group gains customers and improved pricing.
compared to first quarter 2010, the number of customers rose by almost 9%, or 21,000 additional customers. For Trident only 4 and 5, the villages most upscale progress stood at 22% with a gain of 36,000 customers.
"The first quarter of 2011 shows a return to growth we have seen since the summer of 2010," says CEO Henri Giscard d'Estaing, in a statement.
"On the whole winter season, we should save a further significant increase in trading villages despite the shortfall of around 5 to 8 million euros related to events in Tunisia and Egypt," adds he said.
response to events in these two countries, the company has closed on the village of Djerba Soft Tunisia on January 15 and those of Sinai Bay, El Gouna and Luxor in Egypt from 28 January.
The villages of Djerba la Douce and Sinay Bay have been reopened on February 26 and El Gouna March 5, Club Med said in a statement.
The group stressed that the level of bookings as of February 26 showed an increase of 9.7% over the same period last year.
Bookings for summer 2011 recorded a double-digit increase compared to the summer of 2010, said Club Med.
The stock closed Wednesday down 2.03% to 16.90 euros.
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