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