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Orient Express announces improvement in fortunes
Deluxe hotel and tourist train operator Orient Express has announced its third quarter results for the three months ending 30 September.
Revenue during the period increased 13 per cent year on year while profit before tax improved from $21.1m (£11.4m) in the third quarter in 2003 to $25.9m (£14.1m).
James B. Sherwood, chair, said: “The results indicate the pace of recovery of the company’s earnings has increased compared with that of the second quarter.
“If anything, our underlying results are understated due to hurricanes which brushed near our resorts in St. Martin and the Yucatan as well as in New Orleans, where Hurricane Ivan caused two city-wide conventions to be cancelled.”
European hotels performed especially strongly during the period, with pre tax profits rising from $16.6m (£9.2m) in 2003 to $19.6m (£10.8m).
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