Travellers Choice is today pleased to announce its fourth consecutive record financial result, with the Company delivering a pre-tax operating profit for 2015/16 of $2.10 million – up 13% on the previous financial year.
The Travellers Choice Board declared that 95% of the 2015/16 profit would now be returned directly to the national retail network’s members, who remain the Company’s sole shareholders.
All member shareholders will receive a 5.0 per cent (25 cents per share) unfranked dividend, with the majority of the remaining operating profit distributed through trading rebates based on sales support for Travellers Choice’s suite of airline and wholesale partners.
Including the latest profit distribution, during the 2015/16 fiscal period Travellers Choice returned more than $2.47 million in additional commissions, incentives and overrides directly to its members – a 15 per cent increase on 2014/15. This is over and above the supplementary override commissions members earned at source.
Managing Director Christian Hunter says the Company’s sustained profit growth was once again underpinned by members’ unwavering commitment to maximising the value of preferred agreements, as well as the organisation’s disciplined approach to cost containment.
“In addition, our ongoing investment in highly-targeted and cost-effective marketing support services, particularly in the digital sphere, helped drive growth by directing quality business to our members,” says Hunter.
“In 2015/16 the Company’s overall income rose by 17%, with solid organic growth supplemented by the first full-year impact of a number of high-calibre recruits.”
Hunter says the Travellers Choice model – which offers low fees, extensive support services and a unique ownership structure – remains an appealing proposition for Australian travel agents.
“As a result, we expect to continue attracting new members who can positively contribute to our organisation both financially and culturally over the next 12 months and beyond.”
Travellers Choice member shareholders will meet in Canberra in November for the group’s Annual General Meeting and 2016 Shareholders’ Conference.
For further information on Travellers Choice please visit www.travellerschoice.com.au.