The Co-operative Travel makes small half-year profit
The Co-operative Travel made an operating profit of £400,000 for the half-year to July, following a 6.6 percent drop in sales to £126m.
Managing director Mike Greenacre, said: “This is the worst year for trading in my memory, so to emerge with a profitable performance is pleasing although clearly there is a lot of work to be done.
“Margins remain under severe pressure in what is a fiercely competitive market, and it is a testament to the dedication and commitment of everyone at The Co-operative Travel that we have remained profitable in this incredibly difficult year.
“With over 13 significant failures this year, including many of a high profile nature, this has had the effect of knocking consumer confidence, already at a low level, through the uncertainty of potential job losses.
"Clarity on the issue of consumer financial protection coupled with a growing confidence in the stability of the general economy would help enormously to increase current booking levels.”
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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