Travellers Choice members are once again being rewarded with healthy dividends and generous trading rebates after the award-winning group today announced a pre-tax operating profit of $2.02 million for the 2022/23 financial year.
Travellers Choice Managing Director Christian Hunter says the result represents a robust return to profitability – and profit distribution – for the national network, whose member shareholders have shown “remarkable dedication and resilience” over the past few years.
"Since the reopening of domestic and international borders, members have seen an outstanding resurgence in sales,” says Hunter. “At the same time, our Company has continued to exercise prudence in terms of operational expenses. These factors have contributed to a financial performance that exceeds expectations and budgets.”
Travellers Choice will return the vast majority of the 2022/23 profit directly back to its members – who remain the Company’s sole shareholders – in the form of a 6% unfranked dividend (30 cents per share), along with trading rebates based on sales of preferred partners.
“These financial returns, when combined with our low fee structure and unrivalled support services, ensure Travellers Choice membership continues to offer independent travel agents exceptional value,” says Hunter.
Travellers Choice confirmed that those profits not returned to shareholders would now be directly invested in further expanding the Company’s broad range of support services.
“Our aim, as always, is to ensure we continue to provide our members with the support they need to seize commercial opportunities, particularly through the design and delivery of innovative technology and marketing initiatives.”
With Australians’ appetite for travel seemingly undiminished by the current economic headwinds, and the industry steadily returning to full operational capabilities, Hunter says the Travellers Choice Board is forecasting another strong financial result for 2023/24.
Travellers Choice member shareholders will meet on the Gold Coast in November for the Company’s Annual General Meeting, which will immediately precede the network’s 2023 Conference
Themed ‘Shine’, this year’s event will attract more than 250 members and preferred partners, who will hear from an array of speakers, including UK-based customer service visionary Geoff Ramm, who works with some of the world’s leading brands, including Warner Brothers and McDonalds.
The 2023 Conference will also feature interactive workshops, networking sessions, a Preferred Supplier Exhibition, and the much-anticipated return of Travellers Choice’s National Awards Gala Dinner.