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Intosol touts further revenue, profit growth as restructuring bears fruit

By BFN News | 09:23 AM | Monday 17 June, 2019


Luxury travel company Intosol said it had generated 'robust' revenues in the first quarter of the year, on the back of improved guest booking after it restructured its soul private collection properties segment. For the first quarter of its financial year to 31 January 2020, the company reported revenues of €1,789,916 and guest bookings into the its soul private collection properties, were up 15% from a year ago. The increase in bookings comes after the company restructured the soul private collection properties model to replace rental properties with new properties based on management contracts that deliver higher margins. 'Bookings are expected to continue to increase, with a 20% increase in Company website traffic seen during the quarter,' the company said. Looking ahead, the company touted further revenues and profitability growth in the upcoming high season, the period from October 2019 to January 2020. 'The first quarter of INTOSOL?s financial year has seen us make excellent progress across our SOUL Private Collection and Private Travel Design business, highlighted by increasing revenues and despite it being low season for luxury travel,' said INTOSOL Executive Chairman, Rainer Spekowius. 'The restructuring of our SOUL Private Collection model will be a driver in improved financial performance as we go forward. We are replacing previous rental contracts with new management contracts based on a profit share agreement, ensuring higher margins and capturing additional upside from commission on bookings.' 'We are also advancing our strategy to drive increased revenues within the Private Travel Design division. With this in mind, we believe we now have the right model in place to see continual improvements in our financial performance as we move into the high season and look forward to providing updates on progress.' At 9:23am: (LON:INTO) share price was +3p at 38p Story provided by StockMarketWire.com

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