New Start

For what it's worth:

Observer Tips for 2006


Wesley McCoy, investment director, UK equities, Standard Life Investments
Our investment philosophy is to focus on change and the change at MyTravel in 2005 has been phenomenal. It has been refinanced and reinvigorated by a new management team who are well on the way to matching industry cost and margin targets. The travel industry is heavily concentrated and all the main players are exhibiting new financial discipline. MyTravel is trading at a significant valuation discount to its peers and 2006 should be great for the shares if they can deliver.