Intrawest Corporation, operator and developer of village-centred resorts, has announced third quarter results to 31 March showing income for the period all but unchanged on the same quarter 2002, at $56.8m against $56.2m.

Turnover for the quarter was $402.6m, compared with $342.1m in 2002, and total company EBITDA rose to $125.5m from $113.2m. Ski and resort operations turnover for the period was $313.1m, compared with $273.1m last year, and EBITDA was up from $99.6m to $111.6m.

As with the travel and leisure sector worldwide, the company has not escaped the effects of economic uncertainty, the war in Iraq and SARS, and has revised downwards its estimates for the full year. However, Intrawest remains on track to achieve its aims of significant free cash flow and debt reduction in fiscal 2004.

Intrawest owns or controls ten village-centred destination resorts in the US and Canada and is creating six resort villages, five in the US and one in France. Its Club Intrawest vacation concept has seven locations, four in Canada and three in the US.It also has an investment in ski company, Compagnie Des Alpes, and a 45 per cent interest in Alpine Helicopters, a heli-skiing operation. Details: www.intrawest.com