Heatwave cools travel firm’s bookings

One of Ireland’s largest travel firms has said the summer heatwave will have a negative impact on its 2013 performance, with last-minute bookings not delivering in July and August.

Tanya Airey, managing director of Sunway Travel, was commenting yesterday on 2012 financial results that showed the firm increased profitability in spite of a drop in revenues.

Accounts filed with the Companies Office show the travel firm experienced a marginal increase in profits, rising from €176,247 to €180,997.

The rise in profits came in spite of revenues falling by 7% from €32.3m to €30.12m in the 12 months to the end of December.

Ms Airey said the July heatwave “will obviously have a negative impact on the 2013 performance”.

“Last-minute bookings did not materialise as some holidaymakers preferred to stay in Ireland for the unusually good weather.”

On how the business has fared to date, she said: “Winter season 2012/13 was very busy with good capacity levels. This continued in to Jun 2013 when the good weather started.

“There is a certain percentage of holiday-makers who book last-minute and, with the good weather, this business did not deliver during July-August.”

She added: “The load factor is increasing for the autumn-winter season.”

The figures show remuneration to the four directors of Sunway Travel almost doubled to just under €500,000 last year in spite of a dip in revenues.

The accounts show that remuneration to Ms Airey, Philip Airey, Brian McGovern, and James Furlong increased from €250,929 to €482,056 last year.

The figures show that the numbers employed by the firm last year increased from 41 to 42, with 34 in administration and eight in sales.

Employment costs last year increased from €1.37m to €1.8m.

The figures show that the firm has cash of €6.6m. The firm’s shareholder funds stood at €2.7m.

More in this section

Budget 2022 Logo

What impact will this  year's budget have on you and your business.

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up