Virgin Travel profits rise by third

RICHARD BRANSON'S (left) Virgin group said that profits last year in its airline and package holiday division rose by more than a third.

Virgin Travel, which includes Virgin Atlantic, said profits for the 12 months to last April rose from pounds 64.7m to pounds 89.5m on turnover up from pounds 785m to pounds 942m. Virgin added that it was expanding its cinema and mega-store chains in the US and was deciding whether to launch a mobile telephone business as well.