The French specialist travel products and leisure announced Friday a loss of 53 million euros from 1 November 2008 and October 31, 2009 against a profit of 2 million euros a year earlier. The 21 million euros in restructuring costs weighed heavily on the results, detailing the release of the group.

The global economic crisis, which has particularly affected the tourism sector premium has resulted in a decrease in the rag business almost 9% on year to 1.36 billion against 1.48 billion euros last year. Current operating income Villages is nevertheless increased from 35 to 36 million.The group also provides a new line of credit of 120 million euros maturing in December 2012.

"The customer gains the upper end are confirmed despite the crisis, our fundamentals are solid operating profitability of the villages has improved steadily, and financial structure was strengthened," said chief executive Henri Giscard d'Estaing, quoted in the press.

The strategy of moving upmarket Club M?diterran?e conducted for several years and translated for the first time by a number of clients 4 and 5 Tridents (669,000) exceeds the number of clients 2 and 3 Tridents (549,000).

China, "a major growth driver, is expected to open the first village (ski) in late 2010 and five more by 2015.This new market could become a "leading markets group" with such future locations, and help Club Med to restore profits.

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