News

Travel slowdown hits Best of the Best

20 November 2008 08:09:00

Shares in Best of the Best fell over 10% as it warned that the trading environment since its preliminary results in July, has deteriorated significantly and trading conditions have become increasingly unpredictable.

The company, which displays luxury cars as competition prizes in airport terminals, said a slowdown in passenger numbers in UK airports has had a negative impact on the business.

Trading for the month of September was particularly disappointing, the group said, although a good recovery was seen during October.

"In light of the difficult economic climate, the company is making significant cost savings across the business," the group said in a company statement.

"Although we are cautious with regard to trading prospects in the next six months we have maintained high cash balances and remain confident in expanding the existing business, both in airports and online," it added.

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