BusinessCompany NewsIFRS changes hurt tour operator

IFRS changes hurt tour operator

Losses widen for First Choice Holidays

The implementation of International Financial Reporting Standards by tour
operator First Choice Holidays has resulted in wider losses being reported.

Reporting for the first time under IFRS, First Choice said its first-half
loss increased to £34.4m from £32.9m year ago, while its pre-tax loss widened to
£78.2m from £66.7m in the same period last year.

The company said it was still confident of meeting full-year expectations
amid strong high-season demand.

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