Club Med 'needs financial partners' but no new shareholder pact - CEO
PARIS (Thomson Financial) - Club Mediterranee CEO Henri Giscard d'Estaing said the company 'needs financial partners' but added 'it would not be useful to have
a new shareholder pact'.
Speaking after the presentation of the holiday operator's first half results, which saw it posting a net loss of 9 million euros on sales of 944 million euros, compared with a 2 million euro net profit on sales of 839 million euros last year, Giscard d'Estaing said: 'Today, Club Med is well placed for growth and profitability.
The group's summer bookings were up 8.8 percent year-on-year as of early June and operating income for the company's leisure activities rose to 30 million euros from 19 million euros in the first half.
'We are open to regional financial partners to contribute to our strategy,' he said, citing Caisse des Depot du Maroc, Japan's Nippon Life and Saudi Arabia's Rolaco as examples. helen.beresford@thomsonreuters.com afp/hem/kf1
PARIS (Thomson Financial) - Club Mediterranee CEO Henri Giscard d'Estaing said the company 'needs financial partners' but added 'it would not be useful to have
a new shareholder pact'.
Speaking after the presentation of the holiday operator's first half results, which saw it posting a net loss of 9 million euros on sales of 944 million euros, compared with a 2 million euro net profit on sales of 839 million euros last year, Giscard d'Estaing said: 'Today, Club Med is well placed for growth and profitability.
The group's summer bookings were up 8.8 percent year-on-year as of early June and operating income for the company's leisure activities rose to 30 million euros from 19 million euros in the first half.
'We are open to regional financial partners to contribute to our strategy,' he said, citing Caisse des Depot du Maroc, Japan's Nippon Life and Saudi Arabia's Rolaco as examples. helen.beresford@thomsonreuters.com afp/hem/kf1
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