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United Co-op Travel achieves £568m in sales
United Co-op Travel Group saw a 14.6% sales rise to £568 million in 2005.
The figures cover 53 weeks to January 28 and resulted in an undisclosed level of record profitability, according to the organisation.
Homeworking arm Future Travel became the largest division of the group by turnover, UCTG revealed.
Meanwhile, independent agents’ consortium Freedom Travel Group became the third largest trading division and fastest growing division year-on-year, with sales up by 60%.
Cruise division Barrow Travel achieved record profits and “positive sales growth”. The company revealed that a “major strategic initiative” will be implemented this year particularly focused of branding and achieving further strong growth in the cruise sector.
A reduction in the use of Teletext and database development by call centre Apollo Travel Direct contributed to “exceptional growth” in profitability.
Eight branches of the retail network were refurbished and five outlets added including the acquisition of Tony Iredale Travel. Foreign exchange sales were up by 2% in what was described as a highly competitive market.
Increased web bookings are planned for each trading division supported by new back-end technology.
UCTG general manager Mike Greenacre said record results had been achieved across all of its trading divisions, with technology helping to reduce the cost base.
He added: “Nevertheless the pace of change in our industry intensifies every day. We cannot rest on our laurels. Everyone knows that competition for business is unprecedented.
“The use of our marketing resources and the return on sales will be equally important in keeping an even tighter control on our costs. We do, however, remain confident that 2006 will see more progress in terms of sales and profitability, subject always to there being no major global issues.”
Report by Phil Davies
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