Travellers Choice is today pleased to announce a pre-tax operating profit for 2018/19 of $2.05 million – a 32% increase on the previous financial year. The result preserves the award-winning Company's perfect record of returning a profit every year of its 42-year history.
Travellers Choice Managing Director Christian Hunter says strong airline ticket sales unpinned the Company’s growth.
“Overall we observed a 13% rise in the number of airline tickets processed year-on-year, with a 12% increase in international airline tickets,” says Hunter.
“Revenue from our preferred agreements rose across the board, reflecting robust trading conditions and the proven ability of our members to direct business to our valued partners.”
Hunters says the Company also benefited from a reduction in costs and its continued investment in support services that help Travellers Choice members identify and seize commercial opportunities, particularly in the areas of local area marketing and digital promotions.
The Travellers Choice Board has approved the distribution of 88% of the 2018/19 profit directly to members, who remain the Company’s sole shareholders.
All member shareholders will receive a 5% unfranked dividend (25cents per share), with the majority of the remaining operating profit distributed through trading rebates based on sales support for preferred agreements.
“In terms of the current financial year, it’s early days but forward sales are looking positive,” Hunter says. “In addition we are preparing to welcome a number of new, high-calibre members to the network.
“As a result we are anticipating a strong profit performance for the Company 2019/20.”
Travellers Choice member shareholders will meet in Adelaide in November for the group's Annual General Meeting and 2019 Conference.
For the second time in five years Travellers Choice members will take the opportunity during the Conference to celebrate the Company being named 'Best Agency Group' at the National Travel Industry Awards (NTIA).