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Terrorism takes its toll on tour operator

14 September 2006

Shares in tour operator MyTravel tumbled 8% today after it warned that profits would be hit by the recent UK security alert and attacks in Turkey and Jordan.MyTravel, which owns Going Places travel agencies and also has an aviation division, said it expects pre-tax profit for the full year to come in at £40-45m on operating profit of £55-60m. This compares to initial expectations of operating profits of £75-£85m.

MyTravel said UK winter trading had started slowly and was also affected by security concerns. Winter charter holiday bookings are down 11% on 10% less capacity.

source: Guardian Unlimited

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