Record results fuel Travelplanet's expansion plans across CEE

Travelplanet.pl, a Warsaw Stock Exchange-listed online travel agent, posted all-time high revenues after three quarters of 2006, with Q3 traditionally being the best period in the tourism industry. The company's turnover reached zł.58.6 million, almost double last year's figure.

"The results are in accordance with our strategy to increase the company's profitability in 2006. Annual turnover should come to zł.70 million and net profit should approach half a million," says Tomasz Moroz, Travelplanet's CEO.

Over a year after its bourse debut, the company is now getting ready for the establishment of a capital group and is conducting talks with potential acquisition targets.

"We're currently in talks with a couple entities. In Poland, we're eyeing companies that could complete our product offer. In the Czech Republic we're interested in taking over a company similar to Travelplanet.pl because, in the airplane-ticket and hotel-reservations segments, we can easily transfer our services to their market," Moroz told WBJ.

He expects a transaction with a Polish organization to be finalized in Q1 2007. Travelplanet includes hotel-reservation services site hotele24.pl and plane-ticket reservation engine aero.pl.