Planning Approval
August 28 2003 - 3:00AM
UK Regulatory
RNS Number:0981P
2 Travel Group PLC
28 August 2003
28 August 2003
2 TRAVEL GROUP PLC
PLANNING APPROVAL ON SWANSEA SITE AND TRADING UPDATE
2 Travel Group Plc, the AIM listed South Wales based bus and coach operator (the
"Company"), has been granted a 'Certificate of Proposed Lawful Use for
Development' on its 4.8 acre freehold site in Swansea. Given that the City and
County of Swansea has recognised the use of the site as a departure from its
local plan and its close proximity to the Morfa Stadium Development, the Company
is now seeking professional advice as to how to redevelop it in order to
maximise its value.
In the interim statement dated 30 May 2003, the Company's Chairman, Sir Richard
Needham, reported that trading conditions were highly competitive and that some
aspects of the business were performing below expectations. This situation
remains unchanged however the Board anticipates that the position will improve
in the autumn.
Contacts:
Bev Fowles 2 Travel Group Plc Tel: 01792 483 040
Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477
James Caithie City Financial Associates Ltd Tel: 020 7090 7800
Notes on 2 Travel Group Plc:
* 2 Travel Group has three main divisions: a bus operation, a private charter
coaching operation and an engineering division.
* 2 Travel Group's primary business - the bus operation - is centred
predominantly on 3-5 year local authority contracts for school and local
services in the Swansea and Cwmbran areas, although it also undertakes
other contract work for the DVLA, the Royal Ordnance, supermarkets such as
Asda and Tesco and ad hoc work for customers such as National Express.
This information is provided by RNS
The company news service from the London Stock Exchange
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