pwhyte@ttgdigital.com “There will be a combination of
our thoughts about that – and most specifically, what our customers are telling us in terms of their desire to go to the country,” he added. “While we remain mindful of the
importance of tourism to the country we also… are incredibly concerned about security for our customers.” Unlike its rival Thomas Cook, Tui
revealed it was not expecting to take a hit from the financial crisis in Greece. “In overall terms we don’t think there is an impact for Greece because we had a slight slowdown, [and] then we’ve seen a recovery, so we think it’s nil,” Long said. Cook said the Greek crisis would
impact earnings by around £5m. Uncertainty in source markets
doesn’t appear to have dented clients’ desire to travel with Tui. For summer 2015 the firm has seen growth in sales (4%), customer numbers (2%) and total average selling prices (2%).
ANNUAL RESULTS
Investment and expansion pay off for Travel Counsellors
TRAVEL COUNSELLORS has seen its profit jump by 50% as it starts to reap the benefit of increased investment in the business. The homeworking firm reported
a pre-tax profit of £8.2m, up from £5.4m, after another successful year. Top line total transaction value
increased by 8.1% to £416m and statutory turnover went from £115m to £136m in the year ended October 31, 2014. Managing director Steve Byrne
attributed the improved performance to a number of things, including the company’s overseas expansion. “What you’re seeing happen is the
company carrying on its trend of top-line growth in terms of sales and
The recent awareness-raising ad campaign
helping the Travel Counsellors grow their business,” Byrne told TTG. “Over the course of the past few
years we’ve invested a lot in the business, particularly in technology and expansion overseas. What you've seen in 2013 and 2014… is those investments starting to pay dividends.” Travel Counsellors Group Ltd includes figures for worldwide
operations as well as UK ones. According to the group accounts
released at Companies House, the UK is responsible for around 82% of all turnover, with Europe comprising 11% and “other worldwide” 7%. Byrne said Travel Counsellors
would also likely see long-term benefits from its recent £2m advertising campaign, which saw the company appear on television for the first time in June. “It was a brand awareness campaign so it wasn’t in play to drive immediate direct response. We'll see the benefits over this year and next year,” he said. Last year, private equity firm
Equistone took a 60% stake in Travel Counsellors via Jersey-based company TC Holdco 1 Ltd. David Speakman, who founded the
company back in 1994, is no longer listed as a director of the group and in July this year he formally stepped down as chairman.
Patrick Whyte 020 3714 4115
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