Pretax profits soar at Dublin travel company after acquisition
World Travel Centre acquired eTravel last year
The group recorded operating profits of €4.9 million and exceptional costs of €791,450. Photograph: iStock
Pretax profits at the Dublin-based travel company, World Travel Centre, last year increased by 61 per cent to €3.95 million.
New accounts show that World Travel Centre Holdings Ltd recorded the surge in profits after revenues increased by 47.5 per cent from €142.6 million to €210.19 million in the 12 months to the end of October last.
The company’s revenues were boosted by the business acquiring eTravel last year.
World Travel Centre completed the purchase of eTravel on October 31st, with that business’s full year included in the results.
World Travel Centre’s key markets are trade sales, business travel and retail.
The group recorded operating profits of €4.9 million and exceptional costs of €791,450, mainly connected to the group reorganisation along with non-cash depreciation and amortisation costs of €169,949 reduced profits.
Numbers employed increased from 140 to 189 and staff costs increased from €4.65 million to €6.35 million.
Directors’ pay increased from €387,357 to €594,443.
At the end of October last, the group had shareholder funds of €13.8 million that included accumulated profits of €7.6 million. The group’s cash increased from €11.2 million to €15.3 million.