Barrhead promises further expansion as it reports 20 per cent profit rise
Barrhead Travel has reported a 20.4% rise in gross profit to £18.232m for the year January 1 to December 31 2012.
The Scottish group recorded a turnover of £155.671m, an increase of 20.8% on the same period in the previous year.
The group has opened 15 new stores in the last financial year, creating 150 jobs.
Chief executive Sharon Munro said the group would invest an additional £300,000 in new stores on high streets across Scotland and the North of England this year.
"We are on target for sales of £200m in 2013 while continuing to reinvest in the business. Spend on travel is forecast to increase rapidly as the country comes out of recession and Barrhead Travel intends to capitalise on this," she said.
"We have enjoyed significant growth in the last year by considering the different routes to market available to us and by looking to Scottish, UK and indeed global markets for expansion opportunities in domestic and corporate travel through traditional and online means.
"As well as investing in technology, we have expanded our retail network, and especially our homeworking and franchise model, where we have been able to recruit a pool of experienced travel professionals who have found themselves out of work as a result of contraction and closures elsewhere in the sector.
"We also acquired a wholly internet-based business, The Cruise Specialists, in December 2012, which has impacted on 2013 alone. It has strengthened our expertise in this market and will add in the region of £30m annual sales to the group."
In addition the firm has launched its first trade-focused sub-brand, Brilliant Travel.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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