UK online travel group Travelzest has reported that its total transaction value increased 261 percent to £44.1 million as the company disclosed its preliminary results for the year ended 31 October 2006.

The British online travel group offering specialist travel programmes also stated that its turnover increased 70 percent to £19.2 million (2005: £11.3 million); Profit before tax and goodwill amortisation increased 1,066 percent to £863, 000 (2005: £74,000), profit before tax increased 597 percent to £404,000 (2005: £58,000); Normalised diluted earnings per share (adding back goodwill amortisation) increased 290 percent to 4.25 pence (2005: 1.09 pence); Gross profit percentage increased to 37.8 percent from 26 percent in 2005.

Chris Mottershead, chief executive, Travelzest, said: “Within 12 months a considerable increase in profit has been achieved. Focusing on the key growth opportunities in the travel industry – specialist tour operations and online distribution - growth has been driven initially by acquisition and with eight businesses already under the Travelzest umbrella, the foundations are in place to achieve sustained profitable growth. We look forward to the coming year with confidence and to delivering the full-year benefit of the acquisitions made during 2006.”

Related Story: Fly with Travelzest for a rewarding adventure (Independent)

Related Link: Travelzest