Travelzest posted a reduced pre-tax loss of £1.6 million, against £2.9 million a year earlier.
The company said it can look forward to the year ahead with a more streamlined business.
Travelzest booked revenues of £24.1 million, against 25.4 million in 2011. It said it had significantly reduced operating costs
During the year, Travelzest had continued investment in marketing, and expansion of luxury land-based product offerings.
The formal sale process continues, with bidding party negotiations ongoing.
Non-executive chairman Nigel Jenkins said: “We would like to thank the team for their hard work during this period of change for the group, and look forward to the continued focus on strengthening our strong Canadian operations. We believe with a more streamlined business we can look forward with optimism for the year ahead.”