The member-owned organisation’s latest results show that turnover increased by 22% to £15.7 million with operating profit up 16% to £292,000.

The performance has helped bolster the firm’s financial reserves and at the end of the year shareholders’ funds stood at £4.2 million, compared with £2.9 million in the prior year.

The period covered by the accounts – October 2014 to September 2015 – included the launch of Advantage’s five-year plan. Vision 2020 covers a number of areas including growing the Advantage Managed Services (AMS) division and boosting commercial agreements.

AMS added eight new members during the year and turnover grew from £22 million to £30 million.

Managing director Julia Lo Bue-Said, said: “We are once again very pleased with the overall performance of the organisation and with the level of central profit we have been able to generate."

"However, as the only organisation of our size still owned exclusively by the members, it is important that we re-invest as much of the wealth generated by the business into activity in support of our members.

“Indeed, whilst the overall profit achievement is satisfying, it is the average member benefit figure of £27.6k that gives me the most pleasure as it demonstrates that we have improved the membership value to all members by 17%.

“We see very little point in creating profit for profits sake when there is so much more we can do with this active cash in improving the overall member offering”

At this year’s conference, held onboard MSC Fantasia, Advantage revealed that it was launching its own Atol-protected holiday product and Gateway 2, its updated customer relationship management system.

“Looking to the new financial year, it is our intention to exploit our financially secure position even further with a significant investment in our member services particularly with our new technology platform Gateway2, and Advantage Holidays,” Lo Bue-Said added.

“Both initiatives will go a long way in securing the future of the organisation, providing a business investment that will be for the benefit of all members.”