The United Co-op Travel Group has claimed that diversity of product helped it “stay ahead of the game” in a market place that saw an 8% decline during summer 2006.
Revealing the group’s interim results today, general manager Mike Greenacre said: “It has been a tough period for the entire travel industry, however, I am pleased that we have, yet again, managed to stay ahead of the market through our diverse trading channels and a further focus on the relationship with our key suppliers and partners.”
During the first 26 weeks of the year ended July 29, UCTG recorded an increase in turnover of 1.1% to £294.3 million.
It said this was despite a subdued market, which has battled against the post Tsunami recovery , the impact of the World Cup and the June/July UK heatwave.
During the period, a membership growth of 47% year on year gave The Freedom Travel Agents Consortium – UCTG’s subsidiary of independent travel agents – 100 trading members at the end of the first half of the year.
The group’s New Media division achieved an 85% growth in sales generated by www.cooptravelshop.co.uk
“A strong focus on foreign exchange delivered excellent margin growth,” said the statement.
“UCTG’s cruise division, Barrow Travel, had a good start to the year with its Spectrum cruise operation continuing to drive sales forward for tailor made cruises.”
Parent company, United Co-operatives, saw turnover increase by 8.6% to £1.11 billion and profits up 34.3% at £27.9 million.
By Bev Fearis
