Sunny outlook for Travel Counsellors as profits rise 13%

TRAVEL Counsellors, which operates networks of home-based travel agents, has reported a strong annual results and says there’s more to come this year.

Total transaction value at the privately-owned Bolton company, which as well as the UK has operations in Australia, Ireland, South Africa, The Netherlands, Canada and Dubai, rose 3.9% to £356.6m in the year to the end of October 2012.

The company said profits before tax rose 13.1%  to £3.8m on turnover up 12.1% to £96.1m.  

Chief executive Steve Byrne said the business. which has 1,200 travel counsellors and 260 salaried staff including 180 in Bolton, was performing so well because of its high quality service.

“We are really pleased with the results and are on course for an even better 2013 in terms of sales and profitability.

“We only hire the best people, and that is the secret. Our travel counsellors build relationships with their clients and this build tremendous loyalty as people do like the personal service and care they receive.”

Mr Byrne said corporate travel was the fastest growing area for the company, which is owned by its founder David Speakman.

“Corporate sales account for around 20% of our total business, so it is becoming increasingly important. It’s something that we have done for a long time, but we’re finding there’s a good market among small and medium-sized businesses with travel requirements for the same level of personal service that our travel counsellors offer holidaymakers.”

He said the company had invested significantly in a global technology platform which was being used by the overseas subsidiaries, making the international businesses easier to manage.

He said North America and the Middle East were the most popular destinations, which Greece, after a poor 2012, was bouncing back.
 
Earlier this year Travel Counsellors was ranked 13th in the Sunday Times Profit Track 100.