Travel firm’s sales fall by 5% to €85m

Revenues at the Irish arm of specialist travel company, Trailfinders, last year decreased by 5% from £63.3m to £60m (€85m), new figures show.

Travel firm’s sales fall by 5% to €85m

According to accounts just filed with the Companies Office, the Irish business in the Trailfinders Group Limited accounted for just over 9% of Trailfinders’ global revenues in the 12 months to February 15.

The travel firm expanded its operations in Ireland in 2013, opening its first new office in seven years here in April, in Limerick, with the creation of 11 jobs.

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 £27.86m, an increase of 4% on the pre-tax profits of £26.6m recorded in fiscal 2014.

The group last year increased its revenues by 2%, going from £636m to £649m.

Trailfinders also operates in the UK and Australia and the returns show that the company’s UK operation accounted for 90%, or €583m, of the company’s business, with revenues in the Australian sector decreasing marginally from £5.5m to £5.2m.

The accounts do not provide a geographical analysis of profit before tax as the directors state “such disclosure would be severely prejudicial of the interests in the group”.

The numbers employed by the group last year increased marginally from 1,019 to 1,054.

Staff costs last year increased slightly from £42.85m to £42.9m.

The profit takes account of £3.8m in non-cash depreciation costs.

The accounts also record that Trailfinders cost of sales increased from €550m to £561m.

The group’s accumulated profits at the end of February last year stood at £215m; the group had £274.8m in cash at the end of the year.

The company was established by Mike Gooley, a former member of Britain’s SAS regiment, in 1970 with a staff of four.

The accounts show that during the year, the group made charitable contributions totalling £1.29m.

This includes £950,000 to the Mike Gooley Trailfinders Charity. Its objectives are to support medical research, community projects and British armed forces veteran organisations.

The highest paid director received £384,000.

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