Turnover up £3 million for Reed and Mackay Travel

Profit hits £10 million for financial year, as 'business travel environment enjoys a period of conservative growth'.

Reed & Mackay Travel Limited has reported an increase in both profit and turnover for the financial year ending 31 March 2017.

Turnover has increased from £33.1 million to  £36.1 million, up by slightly more than £3 million. And profit after tax is now £10.1 million, an increase of almost £300,000 on 2016.

The travel management company also reported a rise in the average number of staff from 371 to 385.

"The business travel environment continues to enjoy a period of conservative growth, with the volume of corporate travel increasing while corporates look to their travel provider to deliver value through their travel management programme," said a directors’ statement. 

"While the EU referendum in June 2016 resulted in a short period of uncertainty, the business has continued to experience growth in all its markets. At a time of political uncertainty and security concerns, business owners, directors and managers recognise the importance of having a professional travel management company support their duty of care towards their travellers.

"The directors remain confident about the future growth of the business with continued focus on delivering extraordinary customer service supported by best-in-class technology."

The statement also highlighted the company’s international growth this year, having acquired the Chicago-based Gray’s Travel in January 2016 and expanded its Philadelphia and Dubai offices. In April 2016, the group made a strategic investment into the German travel management company Moll Travel, in Frankfurt.

 

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