News

Travel agency consortium Worldchoice has reported a profit of £726,000 for 2007 - 11% up on the previous year and a record for the group.

Worldchoice is a consortium of more than 400 independent agents.

However, the profits are from a small number of agencies owned by Worldchoice along with a range of contributory factors including keeping administration costs down, Triton membership and income earned on initiatives such as foreign exchange and overseas property.

An offer to these shareholders from the Travel Trust Association, representing more than 200 agents, has been accepted by the Worldchoice board and will be presented to an extraordinary general meeting in London on September 3. The TTA (2007) has offered £2.75 per share.

Worldchoice chairman Colin Heal said: "We have been able to pay excellent dividends to shareholders over the last four years. If the merger goes ahead, future profits will enable us to re-invest in the new consortium and increase our support to members."

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