Travelshop Group Shopping Around

Illawarra Mercury

Thursday June 22, 2000

Perth-based on-line and retail travel group Travelshop Ltd is considering expansion through acquisitions.

Director Rob Nichevich said yesterday it was considering offline businesses that could enhance Travelshop's retail and product offering.

``We're quite advanced. One has a retail presence but it has also got a couple of unique products we would be able to offer our clients," he said.

He said any capital raising would be minimal with the company now holding more than $5.65 million cash.

The company may use an entitlement issue to raise this capital.

The proposed program will be considered after Travelshop's new managing director Glenn Robertson begins his appointment on June 26.

Mr Robertson was formerly Olympics general manager with Ansett Australia and before that national sales director for the airline.

Meanwhile Travelshop is continuing to upgrade its new national call centre which is marketing products shown on the television series Getaway.

Travelshop also has an alliance with Coles Myer Ltd which will establish it as the exclusive travel provider on the colesmyer.com portal.

Travelshop shares closed 1? lower at 40? yesterday.