Transaction processor Amadeus IT Holding has reported a sharp increase in profits as the recovery in the tourism sector continues.

Net profits for the six months to June totalled €246.8 million, an increase of 38 per cent on a year ago.

The increase was backed by a growth in revenue of 11.9 per cent, to €1,379.3 million, and an improvement in EBITDA of 19.9 per cent to €556.7 million.

Amadeus president, David Jones, said: “These results are underpinned by an encouraging growth in distribution bookings compared with the same period last year, coupled with the continuing evolution of our IT business.

“Our transaction-based model is both robust and profitable, and has shown that it can quickly benefit from a recovery in travel worldwide.

“We look forward to the remainder of the year with confidence.”

Amadeus

Amadeus is the leading transaction processor and provider of advanced technology solutions for the global travel and tourism industry.

The group operates a transaction-based business model and processed more than 670 million billable travel transactions in 2009.

The total number of bookings in the six months to June 30th rose by eight per cent, up from 214.9 million to 232.1 million.

In turn, the volume of air travel agency bookings increased by 9.8 per cent, up from 183 million to 201 million.