Gray Dawes Travel's profits dropped 58 per cent during the
last financial year - a year in which it rebranded itself as a travel and
expense management company.
The Colchester-based agency’s profit after tax stood at £87k
for the year ending 31 March 2012, compared to £212k for the previous year,
according to accounts filed with Companies House. Turnover was also down 15 per cent for the
year from £2.5m in 2011 to just over £2m in 2012.
The Directors’ Report said that Gray Dawes has had a "consolidating
year". The change in profit “largely reflected sales lacking the
growth of the previous year, in turn triggering less than generous override
payments from the airlines”.
The year saw Gray Dawes hire new CEO Suzanne Cockburn, who
took the decision to rebrand the company to incorporate expense management.
Gray Dawes now offers an integrated end-to-end solution for booking business
trips, claiming all travel and non travel-related expenses and measuring the
‘total cost of trip’.
The Directors' Report added: “One major client is already
implementing the system, which will provide a dynamic income stream for Gray
Dawes, whilst saving the client considerable inconvenience and expense.”
Gray Dawes continues to be supported by parent company
Inchcape Family Estates Limited via short-term loans to cover any shortfalls in
Pictured: Suzanne Cockburn