The agency chain said its financials were also impaired by the ban on credit and debit card surcharging under the EU’s new Payment Services Directive, which came into effect in January 2018.
Its reduced profit, down from £2.9 million in 2017, came despite a 6.6% growth in revenue, up from £300 million to £320 million.
President Jacqueline Dobson said the increase had been driven by expansion and refurbishment of the Barrhead store network, and the development of new franchises – Managed Service Travel Partners – under its Brilliant Travel division.
“We significantly reinvested back into the business during 2018 and we will continue to invest and evolve to adapt to the changing demands of customers,” said Dobson.
Dobson said further expansion “was on the horizon” for Barrhead, including additional investment in its online operation and integration of “state-of-the-art technology” in its retail stores.
“Our stores are diversifying to meet the demands of holidaymakers and we aim to inject as much excitement into the booking process as the holiday itself,” said Dobson, citing Barrhead’s recently launched Universal Orlando Resort Holiday Booking Lounge at its Glasgow superstore, which features a virtual reality rollercoaster experience.
On the collapse of Thomas Cook, Dobson said Barrhead’s immediately priority was looking after affected clients. “Our team have been working round the clock since 2am on Monday morning [23 September] to make alternative arrangements for our customers,” said Dobson.
“The news was really sad, especially for all their employees and for those whose holidays have been impacted. There are a number of vacancies across our branch network, including homeworking opportunities, and we’re trying to help as many former Thomas Cook employees get back into work as soon as possible.”
