Club Med lost 25 million euros in the first half of 2002

Paris._ French tourist group Club Méditerranée registered losses for 21,929,824 euros in the first half of 2002 as compared with 5.4 million euros worth of benefits ratcheted up in the same span of time the year before, the company said.

Revenues reached $706.1 million, 14.8% less than in the first six-month period of 2001, while operational losses welled up to a little bit over $3 million compared to $29.2 million in earnings nicked in the same period of time last year.

In that same timeframe, the company shrank by 13.9% and set in motion a new plan to reach out for better results. As far as prospects for this summer season are concerned, right now saving funds have slid back by 14% as to the first half of 2001, though “they’ve been climbing back up in the last four weeks.” However, the company sees “reasonably” unfit to forecast outcomes for the coming summer given those “last-minute trends in saving funds.”