Email the editor

Profit dip at Reed & Mackay despite "growth in all markets"

Corporate travel management company sees 8 per cent fall in profit to £10.1 million

Pictured: accounts filed at Companies House reveal that turnover rose by £3.7m to £36.8m

Corporate travel management company Reed & Mackay has seen an 8 per cent fall in profit this year, despite seeing “growth in all its markets”.

The company, which also specialises in event management and incentive travel, posted £10.1 million pre-tax profit for the year ending 31 March 2017, down from £11m the previous year.

Accounts filed at Companies House reveal that turnover rose by £3.7m to £36.8m in the same period.

The report accompanying the financial results said: "The business travel environment continues to enjoy a period of conservative growth, with the volume of corporate travel increasing whilst corporates look to their travel provider to deliver value through their travel management programme.

“Whilst the EU referendum in the UK in June 2016 resulted in a short period of uncertainty, the business has continued to experience growth in all its markets. At a time of political uncertainty and security concerns, business owners, directors and managers recognise the importance of having a professional travel management company support their duty of care towards their travellers.

“The UK remains the group’s biggest market with a strong track record of consistent year-on-year growth.”

The firm grew its international presence by acquiring the Chicago-based Grays Travel in January 2017 and expanding  its Philadelphia and Dubai offices. In April 2017 the firm also invested in Frankfurt-based travel management company Moll Travel.

Facebook Share Twitter Share LinkeIn Share