Financial highlights

Total transaction value increased 261% to 44.1 million (2005: 12.2 million)

Turnover increased 70% to 19.2 million (2005: 11.3 million)

Profit before tax and goodwill amortisation increased 1,066% to 863, 000
(2005: 74,000)

Profit before tax increased 597% to 404,000 (2005: 58,000)

Normalised diluted earnings per share (adding back goodwill amortisation)
increased 290% to 4.25 pence (2005: 1.09 pence)

Gross profit percentage increased to 37.8% from 26% in 2005


Operational highlights


Acquisition of iTravel2000.com in October 2006, Canada's largest pure online
travel retailer, providing counter-seasonal revenues to the predominantly
summer based revenues of Travelzest's businesses in Europe

Acquisition of three specialist UK travel companies: Best of Morocco
(November 2005), Peng Travel (May 2006) and Fair's Fare (June 2006). All have
made a positive contribution to the Group's results for the year

Launched Faraway Holidays, a long haul tour operator, as a start-up
in August 2006

Strong organic profit growth achieved in the Group's founding business,
VFB Holidays

Colin McKinlay, formerly Chief Financial Officer for Thomas Cook UK
& Ireland, appointed as Group Finance Director in April 2006

The Group has achieved a record profit before tax and goodwill amortisation of
863,000, 1,066% higher than the previous year, on a growth in total transaction
value of 261% to 44.1 million. Profit before tax increased by 597% to 404,000
and the resulting earnings per share increased by 28% to 1.04 pence. Normalised
diluted earnings per share (adding back goodwill amortisation) increased by 290%
from 1.09 pence to 4.25 pence. The Group will continue to invest the cash
generated from operations into its future development and consequently no
dividend is proposed.


The results are particularly pleasing as they have been achieved in a year of
transformation with significant acquisition activity.

Figures look real good on this. Had a look on my charts, seems to have a positive upward trend,should be some milage in this one.

I can not beleive these shares only went up by such a small amount, on such good results? Is there something I am missing? Should I by? Help!