Total transaction value (TTV) at the homeworking giant increased to £719.4 million last year (year to 31 October 2022), up 14% on the £631 million it achieved in 2018/19 – and is up more than 300% compared with its 2020/21 result, which was heavily depressed owing to the pandemic.
This momentum has continued into Travel Counsellors 2022/23 financial year after six consecutive record-breaking months between November 2022 and April 2022 during which time TTV ran to £486 million, up 64% on the same period in 2019.
The business welcomed 149 new Travel Counsellors last year, growing its ranks to more than 1,800, and earlier this year completed its first acquisition after snapping up Birmingham-headquartered homeworking rival Holidaysplease.
"FY22 was a record year for Travel Counsellors as we delivered significant growth across the business against both the prior year and pre-pandemic levels" said Byrne. "This outstanding momentum has continued into the first six months of the current financial year, as we have delivered consistently record-breaking months.
“I am extremely confident we are exceptionally well placed to further build on our significant growth over the coming years. We are accelerating rapidly towards being a £1 billion-plus transaction platform in the near future and look forward to serving more customers and helping more travel entrepreneurs to grow their businesses in the years ahead."
Other highlights included a more than 400% year-on-year increase in revenue from £68.1 million in 2020/21 to £347.8 million, which is up more than 12% on 2019 (£309.8 million).
Earnings before interest, tax, depreciation and amortisation (ebitda), meanwhile, increased to £20.1 million from a loss of £6.8 million a year earlier at the height of the pandemic.
Top-selling destinations for Travel Counsellors include the US, Spain, Greece, the UAE and the Maldives, with the business reporting record financial performance across both its leisure and corporate businesses.
Byrne paid tribute to the "relentless hard work, commitment and care" demonstrated by the firm’s franchisees during the pandemic. "We went into the pandemic with outstanding levels of customer engagement and satisfaction," Byrne continued. "While the pandemic significantly disrupted our customers’ ability to travel, we were resolutely committed to maintaining close relationships with them and protecting our brand’s hard-earned reputation.
“This is testament to the relentless hard work, commitment and care shown by our Travel Counsellor business owners, who are dedicated to putting their customers first and ensuring they are there for them for every step of their journey. Equally, our employed colleagues who work so hard to support our franchisee community and ensure they continue to build thriving businesses using our personal, digital platform of support which combines the very best of people and technology."
