Travellers Choice profit dives 38%.
Travellers Choice has just released details of its 2011/12 operating profit, which will be 100% distributed to its network of member shareholders.
The figure of $727,553 is down almost 40% on last year’s result of $1.18 million, but ceo Christian Hunter said the outcome was a “solid performance in a challenging trading environment”.
“A strong Australian dollar helped drive some demand over the past 12 months, but significant downward pressure on pricing, combined with ever increasing levels of competition in the marketplace, has inevitably hampered the company’s ability to achieve sales in line with last year’s record result,” he said.
All members will now receive a 5% (25 cents per share) unfranked dividend, with the remainder of the operating profit distributed through trading rebates based on sales support for airline and wholesale partners.
It’s the 35th consecutive year that Travellers Choice has delivered an operating profit.
More information in today’s Travel Daily.