Usit sees profits slump

A 12% drop in business last year contributed to pre-tax profits at specialist student and independent travel group Usit decreasing by 28% to €451,790.

Accounts filed with the Companies Registration Office show that Usit Ireland Ltd sustained the drop in pre-tax profits after revenues dropped by 12% from €7.95m to €7m in the 12 months to the end of Oct 31.

The group’s principal activity is the distribution of travel and work abroad programmes in Ireland to the student and youth sector.