Friday 23 August 2019

Irish arm of Trailfinders boosts revenues by 9pc in 'exceptional' year

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Gordon Deegan

Revenues at the Irish arm of Trailfinders last year increased by 9pc to £82.6m (€91.87m).

That is according to new accounts for the specialist travel business, Trailfinders Group Ltd, where pre-tax profits declined marginally to £32.5m in the 12 months to the end of February this year.

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Group revenues in the 12-month period totalled £813.5m, and Irish revenues represent 10pc of that total.

The directors state that 2018/19 "was another exceptionally good trading year", where the business enjoyed a record turnover.

The group made charitable donations of £10m to the Mike Gooley Trailfinders Charity during the year.

The company was established by the former SAS man Mr Gooley in 1970 with a staff of four. The Mike Gooley Trailfinders Charity's objectives are to support medical research, community projects and armed forces veteran organisations.

The firm operates outlets in Ireland in Dublin, Cork and Limerick.

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

The company's UK operation accounted for 89.8pc, or £730m, of the company's business.

The numbers employed by the group last year increased marginally, from a level of 1,090 to 1,106.

Staff costs last year increased from £46.96m to £47.9m.

Four directors served during the year, and director pay over the period totalled £5.85m. The highest-paid director was given £3.45m.

The profit takes account of £3.2m in non-cash depreciation costs.

Trailfinders' cost of sales increased from £683m to £698m.

The group's accumulated profits at the end of February last year stood at £325m. The business had £116m in cash at the end of the year.

Irish Independent

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