News

Club Travel Increases 2011 Pre-Tax Profits to €3.9m

Club Travel Increases 2011 Pre-Tax Profits to €3.9m

In the 12 months to 31st October 2011, Club Travel increased revenues by 9.4% to €84.4 million (up from €77.1 million the previous year) and increased pre-tax profits by 13.7% to €3.9 million. The acquisition of the Budget Travel brand in 2010 was “a major contributor” to the increase in revenues last year. Staff numbers increased by 14 to 124 last year.

Managing Director Liam Lonergan said: “The industry continues to be very demanding, but we are relatively pleased having done reasonably well last year. Our investment in technology has allowed Club Travel to remain relevant. The bricks and mortar model of the travel agent is substantially gone. There is nothing predictable in this business. I am quite positive about the short term, but I haven’t a clue about the medium term.”

Club Travel Logo

This year’s and next year’s revenue figures may be affected by the loss of the Government travel contract from 1st August 2012.

USIT

Meanwhile, USIT Ireland’s revenues for the 12 months to 31st October 2011 decreased by 11.9% to €7 million (from €7.95 million the previous year) and pre-tax profits decreased by 28% to €451,790.

The directors’ report said: “Despite a challenging economic environment, the group performed extremely well as it continued to drive business through niche and new products.”

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Blue Insurance Acquired by Cover-More Group of Australia

Neil SteedmanJuly 22, 2018

CAR Issues Regulation Notice Regarding Sindaco Ltd

Neil SteedmanJuly 20, 2018

Three Airports Welcome Norwegian 2019 Summer Schedule

Neil SteedmanJuly 20, 2018

Aegean Airlines is Skytrax Best Regional Airline in Europe 2018

Michael FloodJuly 20, 2018

Bangkok from €549, Sydney from €1,120 in Emirates July Sale

Neil SteedmanJuly 18, 2018

Lufthansa to Go Five Daily on Dublin-Frankfurt

Neil SteedmanJuly 18, 2018

Singapore Airlines Voted World’s Best Airline at Skytrax Awards

Neil SteedmanJuly 18, 2018

Finnair Extends ATTS Contract to Represent Airline in Northern Ireland

Michael FloodJuly 17, 2018

George Best to Overlook Donegall Square from New Belfast Hotel Rooftop

Neil SteedmanJuly 17, 2018

Copyright © 2016 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland