MTG TTV up $42 mil­lion

Travel Daily - - News -

DE­SPITE chal­lenges fac­ing the travel in­dus­try in the past year such as ter­ror­ism in Europe and the UK, as well as de­fla­tion in air­line prices drop­ping yield, Mag­el­lan Travel Group posted To­tal Trans­ac­tion Value of $925m for FY17, up $42m on FY16.

An­nounc­ing the re­sult at the 2017 an­nual con­fer­ence this morn­ing, md An­drew Macfar­lane said MTG re­ported profit of $8.7 mil­lion, down slightly on FY16.

Macfar­lane said that costs had in­creased and this was “ow­ing to planned in­vest­ments on new re­sources de­liv­ered and de­ployed on vi­tal ar­eas of the busi­ness to sup­port growth.”

Mag­el­lan was strength­ened over the past 12 months with 10 new mem­bers and an ex­tra seven out­lets join­ing the group, “giv­ing us a net­work of 130 agents around the coun­try,” he said.

With the ad­di­tion of these new mem­bers, Macfar­lane said TTV for FY18 would eclipse the $1 bil­lion mark for the first time.

MEAN­WHILE, Mag­el­lan Travel Group co-founder Kevin Dale was lauded at the an­nual con­fer­ence in Perth this morn­ing, hav­ing stepped down from the board.

Found­ing Gipp­s­land Travel in 1975, Dale had held var­i­ous chair po­si­tions through­out his ca­reer in­clud­ing ATAC, and is the cur­rent chair­man of Cruiseco.

Macfar­lane will take Dale’s place on the board hav­ing pur­chased the found­ing units & now hav­ing “skin in the game,” he de­clared.

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