Specialist travel group sees small hike in profits after Limerick move
SALES at the Irish arm of specialist travel company Trailfinders inched up 1.3pc to £63.3m (€79.5m) last year.
Accounts just filed show the Irish business of Trailfinders Group accounted for just over a tenth of Trailfinder's global revenues in the 12 months to the end of last February.
Trailfinders expanded its operations in Ireland during the period, opening its first new office in seven years in Limerick. The firm also operates centres in Dublin and Cork.
Consolidated accounts for the UK, Irish and Australian operations do not detail the profit recorded by the Irish subsidiary. However, the Irish business contributed to the group recording pre-tax profits of £26.68m - an increase of 45pc on the previous year.
Revenues rose 6pc to £636m. Sales in the Australia sector decreased 21pc to £5.5m.
Trailfinders employed 1,019 people last year and paid a dividend of £2.5m. Group profits were boosted by £9m in 'other operating income'.
The profit takes account of £3.8m in non-cash depreciation costs.
Trailfinders reported the cost of sales increased from £522m to £550m. Accumulated profits at the end of February last year stood at £197m - the group had £90.47m in cash at the end of the year.
The company was established by former SAS soldier Mike Gooley in 1970 with a staff of four.
Accounts show that during the year, the group made charitable contributions totalling £750,000 to the Mike Gooley Trailfinders Charity which supports medical research, community projects and armed forces veteran organisations.
Payments to directors last year increased from £814,000 to £949,000. Payment to the highest paid director totalled £481,000
The accounts show that the company's wage bill increased from £40.7m to £42.85m in the same period.