Kinki Nippon Tourist Co. said Thursday its group net profit grew 4.8 percent to 2.45 billion yen last year thanks to cost cuts and a rebound in overseas travel.

But the nation’s second-largest travel agency, which has been struggling since Sept. 11, 2001, warned that the business impact from any military strike on Iraq is unfathomable. Given the uncertainty, the firm’s projected 2003 group profit of 2 billion yen, on revenue of 117 billion yen, does not reflect the possibility of war on Iraq.

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