Western & Oriental in profit

Shares in Western & Oriental gained 3.6 per cent yesterday, as the specialist luxury travel group reported a swing to pre-tax profit for the six months ended 31 March 2009. The company posted first-half pre-tax profit of £100,000 against a £2m loss in the year previous, while gross profit margins came in significantly ahead of expectations, increasing 90 basis point to 16.8 percent.