Monday 24 October 2016

Revenues at travel giant's Irish unit rises to €78m

Gordon Deegan

Published 11/08/2016 | 02:30

The Irish arm of travel group Trailfinders saw revenues rise
The Irish arm of travel group Trailfinders saw revenues rise

Revenues at the Irish arm of specialist travel company Trailfinders rose by 12pc to £67.5m (€78.8m) last year.

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According to accounts just filed with the Companies Office, the Irish business in the Trailfinders Group Ltd accounted for 10pc of Trailfinder's global revenues in the 12 months to February 29 of this year.

The travel firm expanded its operations in Ireland in 2013. It opened its first new office in seven years here, creating 11 jobs in Limerick. The firm also operates centres in Dublin and Cork.

The consolidated accounts for the UK, Irish and Australian operations do not provide the level of profit recorded by the Irish subsidiary last year.

However, the Irish business contributed to the group recording pre-tax profits of £22.53m.

The group last year increased its revenues from £648m to £682m while it paid a dividend of £2m.

The returns show that the company's UK operation accounted for 90pc (£612m) of the company's business with revenues in the Australian sector almost halving from £4.6m to £2.69m.

The numbers employed by the group increased from 1,054 to 1,057. Staff costs last year decreased from £42.33m to £40.9m. The profit takes account of £3.58m in non-cash depreciation costs.

The accounts also record that cost of sales increased from £561m to £589m.

The group's accumulated profits at the end of February last year stood at £240m - the group had £117.25m in cash at the end of the year. The company was established by former SAS man Mike Gooley in 1970 with a staff of four.

The accounts show that during the year, the group made charitable contributions totalling £3.5m to the Mike Gooley Trailfinders Charity whose objectives are to support Medical Research, Community Projects and armed forces veterans.

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