MyTravel seeks to soothe wary City

12 April 2012

THE country's largest holiday firm, MyTravel Group, has sought to soothe investor worries, saying its trading is meeting expectations despite lower UK bookings.

The tour operator, whose shares slumped in May on a surprise profit warning as holidaymakers held off booking in the hope of late bargains, said UK summer bookings were 5% behind last year.

But it expected growth from the second quarter to carry into the second half of the year. The company, which had more than a million holidays on its books at the time of the profit warning, said it now had less than 500,000 to unload before its September year end. It is cutting prices to shift them.

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