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Travel Counsellors keeps flotation options open
Going public is one of a number of options open to homeworking travel agency Travel Counsellors as it confirmed its status as a public limited company. The Bolton-based independent travel agency, which expects turnover to increase by £40 million this year over 2003 to reach £140 million, was given PLC status by Companies House. Founder and chairman David Speakman said the move formed part of a new initiative to raise standards throughout the company, which won a Queens Award for Enterprise last year. Travel Counsellors would not confirm whether it was to seek a stock market flotation, although becoming a PLC can be one of the steps on the way to an eventual listing. This is one of a number of options open to the company. As part of the new strategy, the company has created a new ‘gold’ category of agents, for top achieving staff. Homeworking agents must take £500,000 in bookings or £50,000 in commission while telesales agents must reach £750,000 or £75,000 in commission over a 12-month period. Thirty-four agents have reached the criteria since November and a further two have already hit targets for the year to 30 April. All will receive a three-night break in Cyprus in June. More than 400 staff work from home for Travel Counsellors in addition to 100 at its head office. Report by Phil Davies
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