BARRHEAD Travel grew sales to a record £300 million last year before surrendering its independence to a US travel trade giant.
The business was sold to Travel Leaders Group in February for an undisclosed sum in a deal founder Bill Munro predicted would be good for its 1,000 employees.
Read more: Barrhead Travel founder says 'no jobs under threat' after firm sold to US buyer
Barrhead Travel began life as a single store in Barrhead in 1975 and now has 73 outlets across the UK.
The company operates in a market in which business is increasingly moving on line.
However, Barrhead said it felt the benefit of opening new stores in Belfast and Leicester last year as it grew sales by 7.4 per cent, from £279.2m in the preceding year, amid challenging market conditions.
“Despite the collapse of Monarch Airlines, terrorist attacks both at home and abroad, a strong hurricane season in the Caribbean and the protracted Brexit negotiations we are delighted that we have recorded another very successful year,” said Sharon Munro, who remained head of Barrhead Travel as company president following the sale to Travel Leaders Group.
Read more: 100,000 passengers face disruption as Monarch Airlines goes into administration
Barrhead Travel said customers still make their annual holiday a priority, in spite of uncertainty about the outlook for the economy pending Brexit.Sales of river cruises surged last year.
It noted that advance bookings were 8% higher at the end of 2017 than at the same point in 2016.
The company did not disclose details of the value of bookings recorded in the year to date and how they compared with the same period last time.
But Ms Munro said there is a real sense of energy and momentum in the business.
“I believe that due to the group’s unique and varied product offering, the profile of the customer base, and the enhanced operational capability brought about by our takeover by Travel Leaders Group … the outlook remains very positive,” she added.
Barrhead Travel has opened stores in Southampton and Port Glasgow this year, with one due to open at the Fort Kinnaird complex in Edinburgh this month. It said the redevelopment and expansion of outlets in Livingston and Glasgow Fort are also pending for later in 2018.
Read more: Travel group outlines £8.1m expansion plan
The company has been investing in technology in support of its growth plans. Innovations designed to enhance the customer experience in store include Virtual Reality headsets. The online portal has been enhanced.
Regarding the acquisition of the firm by TLG , Barrhead Travel said: “Substantial opportunities have been identified to create synergies in the areas of technology, marketing, training, supplier relationships, cruise sales, hotel sales and more.”
The company achieved £2.7m earnings before interest depreciation and amortisation in 2017, compared with £3.2m in the preceding year.
It said the fall reflected continued investment in people and website technology alongside the launch of new stores.
Ms Munro bought the business from her father Bill in 2007.
Travel Leaders Group describes itself as one of the world’s largest traditional travel agency companies.
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