Travellers Choice announced its financial performa

first_imgTravellers Choice announced its financial performance for 2016/17 on Friday, posting a pre-tax operating profit of $1.92m, and maintaining the Company’s record of returning a profit every year of its 40-year history.“We are now looking at a variety of investment options that will maximise the long-term return for the Company and its members,” said Travellers Choice Managing Director Christian Hunter.Hunter said the Company’s total income decreased by 5% for the financial year, primarily reflecting a softening of airfare prices.“We saw an increase in the number of airline tickets processed year-on-year, but a decline in the average cost of airfares impacted overall revenue generated by our airline agreements. “After four consecutive years of record profits, this trend, combined with additional investments during 2016/17 in our expanding range of digital support services, has resulted in a 5% fall in total pre-tax profit.“With airfare prices firming, positive forward sales across the Travellers Choice network, and new high-calibre member shareholders set to join the fold, the Company is well positioned for profit growth in the year ahead.”The 2016/17 profit – excluding a contribution from the sale of the Company’s shareholding in the Worldwide Independent Travel Network (WIN) – will now be returned directly to the national retail network’s members, who remain the Company’s sole shareholders.Hunter says the Travellers Choice Board has opted to retain the income from the WIN shareholding in order to invest in development projects. Travellers Choicelast_img