The world in its lap
Article Abstract:
British-based Airtours PLC has been performing exceptionally well despite the recession. The tour operator is not merely surviving the economic downturn and the slow down in international travel, but it has actually managed to bring increase its sales in 1991 by more than 100 million pounds sterling, its profits by more than 20 million pounds and its market price by more than 700p within the span of one year. With this kind of a record, Airtours management is unperturbed by rumors of a price war. The tour operator is convinced that the issue of overcapacity in the travel market has been greatly exaggerated by the media. In any event, analysts believe that Airtours is in a strong enough position to face the new challenge. The company has been thriving very well in a recession economy, and it is expected to do still better when the economy recovers.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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Hungry new boys hob nob in Europe
Article Abstract:
United Biscuits (UB) Finance Dir John Warren, a chartered accountant, is part of a new management team for the UK food manufacturer. Warren intends to carry out UB's plans to expand its European market share while maintaining the firm's earnings per share. UB is moving its focus away from low-margin commodities, such as frozen peas, to high-margin prepared foods, such as pizza. UB sold off its restaurant chains to concentrate on its core business of food. The recession has hurt UB. Analysts' forecasts of year-end results have been reduced for 1990 by six million pounds sterling to 195 million pounds, and for 1991 by 10 million pounds to 215 million pounds.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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Harry Coe, finance director, Airtours PLC: no clouds on the horizon for high fliers
Article Abstract:
Airtours PLC differs from most UK tour operators because it avoided a downturn during the Persian Gulf War. Many UK tour operators have been badly hurt by the drop-off in business due to the War, but Airtours is the leader in the tour-operator industry in bookings, sales and profit per employee, profit margins, and stock price. Airtours enjoys the lowest cost base in the tour industry. Fin Dir Harry Coe states that the firm's reported 3.4% profit margin for 1990 does not reflect the true health of the business because it represents the write-off costs for two new businesses. Future plans for the firm include launching its own in-house airline.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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