Pre-Tax Profits Rise At Tour Company Travel Department
New accounts filed by Dublin-based tour company Travel Department have revealed that the firm's pre-tax profits rose 10% to €2.58 million in 2018.
Travel Department's revenues rose 2% to €43.4 million last year while staff costs decreased from €3.4 million to €3.19 million and directors' pay decreased from €1.6 million to €1.4 million.
The company's cost of sales increased to €33.7 million from €33.2 million.
Administrative expenses also increased, rising from €6.9 million to €7.2 million.
Shareholder funds totalled €2.86 million at the end of December, 2018.
Additionally, the company paid a dividend of €2.82 million.
The Irish Independent quotes Travel Department's directors as saying that they "are satisfied with the performance of the group in the current financial year".
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.