LONDON May 12 Travelex, the retail foreign
exchange provider, said it is continuing to evaluate a possible
stock exchange listing and reported a 266 percent rise in first
quarter profit, benefiting from an acquisition in Brazil.
Travelex, which is majority-owned by private equity firm
Apax Partners, said in March it was reviewing its strategic
options including a possible initial public offering in London.
Earnings before interest, tax, depreciation and
amortisation, rose to 11.7 million pounds ($19.7 million),
including a 2.3 million pound contribution form Grupo Confidence
in Brazil, which it bought in April last year.
"We have made further progress against our strategic
priorities with continued expansion into new regions, most
recently in Turkey, and further growth from our digital
platform," said Chief Executive Peter Jackson.
($1 = 0.5938 British Pounds)
(Reporting by Matt Scuffham; Editing by Anjuli Davies)