MADRID - Amadeus, the world`s leading travel reservation group, reported Thursday that first quarter net profit had increased by 12.8 percent as it prepared for changes to its shareholding structure.
Net profit in the three months to March 31 rose to 79.2 million euros (102.5 million dollars), from 70.2 million in the same period a year earlier on a 10.2 percent increase in sales to 593.1 million.
The results reflected the inclusion of the online travel agency Opodo, which Amadeus acquired last June for 62 million euros, along with contributions from three other acquisitions.
Amadeus said in a statement that total bookings had grown by 0.7 percent to 124.9 million, but had declined by one percent in Europe and by four percent in the United States.
Air bookings increased by 1.9 percent, while bookings from other activities fell 5.3 percent.
Operating profit declined by 9.62 percent to 113.7 million euros, the company said.
A public offer for the group launched by its core shareholders -- the airlines Air France, Iberia and Lufthansa -- along with two British investment firms, Cinven and BC Partners, is in its final phase.
Following approval by the European Commission, the operation which values Amadeus at 4.33 billion euros requires a green light from Spanish stock market authorities before it can be finalised.
05/05/2005 18:00 GMT