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August 3, 2004 9:47 am

Strong e-commerce revenues lift Amadeus

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A surge in revenues during the second quarter from e-commerce helped Amadeus, the leading IT and distribution company for the travel industry, report a 42.9 per cent year-on-year rise in first-half net profits, to ?128.5m ($154.7m).

The company said on Tuesday that sales for the?six months?to June 30 were ?1.05bn, up 8.5 per cent on the year-ago period, while ebitda climbed 18.4 per cent to ?317m. The company handled a total of 238.7m bookings, up 12.8 per cent.

Amadeus, which in June announced the acquisition of a 55 per cent stake in Opodo, the European on-line travel agency, said profits for the full year were likely to be ?at the top end? of a previously-forecast range of ?185m to ?195m. That compares with ?158.4m for 2003.

For the second quarter, it said strong growth in airline and hotel reservations had underpinned a 10.4 per cent rise in revenues from booking fees. Revenues from other businesses ? representing 25 per cent of the total - climbed 9.5 per cent, to ?127.5m, driven by a 54 per cent surge in e-commerce.

The shares climbed nearly 1 per cent, to ?5.37, in early trade on the Madrid stock market.

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