(Alliance News) - I Grandi Viaggi Spa announced Friday that its board of directors approved the draft financial statements ending Oct. 31, 2023, with an operating profit of EUR2.8 million from a loss of EUR140,000 in the same period last year.

Consolidated revenues for the period amounted to EUR57.0 million, up from EUR49.0 million in 2022.

Ebitda amounted to EUR5.9 million from EUR3.1 million a year earlier.

Operating income is thus EUR3.3 million from EUR311,000 in the same period last year.

Net financial position is EUR8.8 million from EUR8.0 million in 2022.

"The management data recorded in mid-January," the statement reads, "show a phase of recovery in the tourism sector, with an increase in sales both with regard to Italian destinations and sales inherent in most foreign destinations in the non-Schengen area, confirming the interest and preference of customers for our products.

"Economic forecasts for 2024," the company continues, "combined with ongoing conflicts whose outcomes are unpredictable, tend to reduce the propensity to spend especially those of a voluptuous nature. However, as in similar cases in the past, the group's goal is to achieve substantial financial balance."

I Grandi Viaggi's stock closed up 3.8 percent at EUR0.84 per share.

By Chiara Bruschi, Alliance News reporter

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