Travel firm enjoys rise in income over last 12 months

A Manchester travel management business saw its total transaction increase by £1m last year.

CTI Travel, which us backed by private equity firm Endless saw a rise in incomes even though pre-tax profit fell slightly.

CTI was founded as TD Travel in 1983 in Manchester.

The company has partnerships with airlines, hotels and rail firms across the world and has a workforce of 85 across operations at its head office as well as in Bristol and Leeds.

Last summer private equity firm Endless acquired a majority stake in the business after LDC exited the business.

For the year to 31 March 2018, CTI Travel reported a total transaction value of £45.9m compared to £44.9m.

Pre-tax profits fell slightly from £81,529 to £46,208 but the total figure was up from £83,898 to £104,046.

In a statement CTI Travel said: “The business travel market, like most business sectors, has been affected by the economic downturn, through management is encouraged by the current trading levels with key customers.

“Pressure on margin continued this year but the business introduced a new strategy, under the ownership of Endless, which focussed on margin improvement resulting in the business exceeding its gross margin target.

“2017/18 was a year of significant change, a year of realigning the business, creating a new strategy and building the foundations for a successful future. Huge strides were made and the business is set to continue its growth in a competitive environment.”