| Latvia's Tez Tour operator plans to generate EUR 0.5 mln in 2008 profit |
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| Monday,December 08,2008 Posted: 16:15 BJT(0815 GMT) |
| From:Baltic News Service Article type:Original |
RIGA, Dec 08, BNS - Latvia's Tez Tour operator hopes to end this year with 0.5 million euros in profit, said Tez Tour Baltic director Konstantins Palgovs in an interview with Latvian business weekly Lietiska Diena on Monday.
"We would like the profit to be about 0.5 million euros. But we understand that November and December usually show a drop in the industry," he said, adding that end-of-year trips are usually purchased in August or September.
"At present there is still inertia in the market. This year's results will be super. Reality will show with agreements to be signed from January 2009. At present everybody has sat down, but the movie has not started yet. It will start soon and then it will be interesting," he said.
Palgovs said that the company is working at new routes, new technological solutions to retain and strengthen its market positions.
"Players are leaving the market as they are not able to compete and their market shares are left with other players. We are happy to take over new market shares. The market itself is not growing so fast, just by some 10 percent But we have grown by 20 percent. It means that the market is being re-distributed," said Palgovs.
He said that the company's market share in Latvia is 40 percent, plus minus 7 percent, depending on the season.
Latvia's Tez Tour aims to close 2008 with a 23 million lats (EUR 32.7 mln) turnover, the company reported earlier. In 2007 Tez Tour generated 15.751 million lats in sales at a 45 percent increase from 2006. The company earned 1.386 million lats in profit in 2007, almost doubling from 2006. Last year Tez Tour served 40,000 tourists.
Tez Tour is an international tourism operator, which opened its representation in Latvia in April 2002.
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