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Strong Australian growth for Club Med

Club Med Bali

Club Med has issued its first half-2011 global results showing strong growth, with worldwide business volume up 12% and revenue up 11%.

Australia is leading the renaissance of the iconic 60 year old brand, showing a 53% increase in business bookings, 19% increase in family, 12% increase in ski holidays and a 17% increase on bookings to their premium 4- and 5-Trident resorts in Asia Pacific.

According to the company, this indicates that the upscale premium product move that began in 2004, was accurate, with today’s savvy traveller wanting a premium, more exclusive, but all inclusive holiday package, suitable for all ages, at magnificent locations around the globe.

In discussing the interim results, Club Med’s Chairman and Chief Executive Officer, Henri Giscard d’Estaing, said: “The very sharp improvement in first-half results and the increase in the number of our customers, despite an unfavorable environment in the second part of the semester, have demonstrated the effectiveness of the strategy that Club Med has steadily led since 2004.

“Backed by its historical strengths (its global brand, its locations, its all-inclusive package that has now been moved upscale, and its GO’s), Club Med is capitalizing on its global market presence and the transformation of its business model, which enable it to spread its risks and adjust capacity to events.

“The over performance delivered over the winter could therefore enable the Group to offset the unfavorable impact over the summer of currently known events,” he said.

Full summary of global results:
-Business volume up 12% to €763 million;
-Revenue up 11% to €754 million;
-Number of 4 and 5 Trident customers up 22% (or 78,000 customers);
-Operating Income Villages up 67% to €47 million;
-Doubling of net income before tax and non-recurring items, to €28 million (vs. €14 million in first-half 2010);
-Net income of €10 million (vs. €3 million in first-half 2010); and
-Free cash flow of €30 million (vs. €21 million in first-half 2010)

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