Travelzest by the numbers

Travelzest plc has released preliminary results for the year ending Oct. 31, 2011, reporting that it saw a 13% increase in total transaction value (a record) that was driven by agency growth in Canada. But the online travel company also reported that its revenue dropped by 14% due to a 49% decline in UK merchant revenue that was partially offset by a 16% gain in agency revenue. Commenting on the results, Travelzest’s CEO, Jonathan Carroll said: “We have had to make some difficult decisions in the period and have focused on those brands that we believe will drive both growth for the business and shareholder value in the longer term.” Carroll continued: “The simplification of our business, post-rationalization, will allow us to better focus on what makes us successful and we are already starting to see the operational and financial benefits of a more streamlined UK business.” The company’s non-executive chairman, Nigel Jenkins observed: “The work that has been done over the year, although difficult, has positioned the business to better weather the continued economic headwinds in the UK and will set us on a path for improved profitability.” Jenkins said that: “We believe that the business has the right foundations to grow and the initial key indicators are positive in 2012. We remain cautiously optimistic for the year ahead.” For the complete results, go to .