Advantage results reveal 'very healthy profit'

Advantage results reveal 'very healthy profit'

Advantage Travel Partnership’s turnover increased by almost £3 million in 2015, compared to the year before.

The consortium’s turnover topped £15 million last year, whereas in 2014 it was £12,809,642.

After tax, profits in 2015 were £495,279 down from £548,925 the previous year, but Advantage said it was pleased with the “very healthy profit” achieved by the group.

Turnover through Advantage Managed Services (AMS) members increased from £22 million in 2014 to £30m in 2015.

Eight new members have joined AMS and the organisation reached a milestone as the first Advantage member transitioned from a standard membership to become an AMS member.

In its annual financial statement, Advantage claimed average benefits to members rose from £23.5k to £27.6k. The membership organisation also claims its ‘overall commission differential with competitors’ has increased to 1.08%.

Advantage 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 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 profit's sake when there is so much more we can do with this active cash in improving the overall member offering.”

Looking forward, Lo Bue-Said said the business would “exploit our financially secure position”.

She said new tech platform Gateway2 and tour operation Advantage Holidays would “go a long way in securing the future of the organisation”.

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