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02
April 2009
Lowcosttravel Group saw pre-tax profits rise
by almost 50% to more than £450,000 in the
year to October 2008.
Total transaction value in the 12 months was
up by 44% to £50 million with gross profit
margins maintained at 13%.
The online travel company, which has since
acquired transfers company Resorthoppa, said
net margins were increased during a tough
trading year following "sunstantial"
investment in new technology.
Pre-tax profit for the year ending October
31, 2008, reached £457,329 from £308,462 the
previous 12 months.
The group has three main strands -
trade-facing ABTA member lowcostbeds.com,
consumer dynamic packaging brand
lowcsotholidays.com and Resorthoppa, which
joined in January.
CEO Paul Evans said:
"Despite increased
competition, the economic downturn and the
depreciation of sterling, our business is
trading very strongly and we are
experiencing record sales every week."
"Currently we are seeing 186% growth in like
for like sales and 220% at group level,
including Resorthoppa."
"Resorthoppa sales are up 25% year on year
since our merger."
"Our trade business and partnerships continue
to go from strength to strength and our
direct consumer business is recording
significant growth levels, despite the
economic doom and gloom reported every day."
"Average holiday prices are up by three per
cent year on year and currency hedging has
meant the company has been able to raise its
margins despite 'intense' price competition",
he added.
"Our investment in our super fast and
advanced technology platform last summer has
made a huge difference to our customer
conversion and retention" said Evans.
"We have a brand that will stand us in good
stead in these difficult economic times and
we look forward to continued growth."
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