Westminster Travel says it posted a 27% rise in net profit attributable to equity holders of the company to HK$14.1 million ($2.58 million) in HY2010 from HK$11.1 million in HY2009, due to the non-recurring professional expenses incurred for the listing of the company in HY2009.

Revenue of the group for HY2010 decreased 4% when compared with the corresponding period last year. Despite the economic turmoil and the impact of Influenza A (H1N1), the group’s business gradually recovered during the period under review and in general, recorded an increase in the volume of travel products sold. However, as a result of price reduction of travel products by airlines and hotels, the group recorded a 4% decline in revenue when compared with the corresponding period last year.

Other income of the group increased to HK$9.4 million in HY2010, which represented an increase of 6.8% from HY2009. The increase was mainly attributable to the increase in income from development fund and segment fee as a result of increase in sales volume of air-tickets. The increase in income from development fund and segment fee was partly offset by the drop of interest income as a result of decrease in deposit interest rate.