Loading ...Orbitz Worldwide, Inc, one of the world’s leading companies for travel bookings has reported a 14 percent profit increase for its performance in 2007, bringing in $859 million.
CEO and president of Orbitz Worldwide Steve Barnhart commented on the company’s recent success by saying, “Our strong growth in Adjusted EBITDA in 2007 is primarily the result of excellent performance at our international brands, good performance in the U.S., and the benefits of cost leverage as we grow our business. We sustained strong international growth in the fourth quarter of 2007, with a 43-percent increase in international gross bookings and a 33-percent increase in international revenue as compared to the fourth quarter of 2006. This growth was driven by particularly strong results in continental Europe.”
The final figure of $859 million is up from 2006’s earnings of $752 million. Barnhart went on to say, “Looking forward, we expect continued strong growth in our international businesses and have a strong pipeline of activity to accelerate growth in the U.S.
Our domestic operations face a difficult comparison in the first quarter of 2008 against the prior year, after which we expect our results will improve through the year as we realize the benefits of our strategic initiatives. We remain focused on growing our international operations as we roll out our new technology platform to the balance of our 13 ebookers sites. We will continue to invest in building our non-air business around the world, particularly by expanding the inventory of hotels that we offer our customers through all of our brands.”
www.orbitz.com
Blogman
14% of 859 Million is quite a lot, their shareholders must be laughing all the way to the bank.