Magellan outlines growth plan as profits rise

Magellan outlines growth plan as profits rise
By admin

Magellan Travel Group has reported a record profit for members at its annual conference at Noosa Heads in Queensland as it outlined a three year growth strategy.

Chief executive Andrew Macfarlane highlighted membership growth of 9% and net profit increases of 17% to$4.1 million.

“Costs as a percentage of income have decreased for the fifth year running and average profit distribution per agent increased has increased for the fifth year in a row, so we are proud of our continuing efforts to keep central costs low and increase profit for our members,” he said.

Macfarlane also revealed plans to grow the group to more than 100 “high end” leisure and business travel agents with a combined total transaction value (TTV) of $1 billion by 2017.

“Our strategy is to be a small group of larger agents not a large group of smaller agents,” he said.

Meanwhile, the group confirmed the appointments of Penny Spencer of Spencer Travel Group and Carl Buerckner of Platinum Travel Corporation as directors.

With their corporate travel expertise and experience, they help create a “balanced” board, according to chairman Andrew Jones.

“Penny is an industry icon, not only through the success of the highly-awarded Spencer Travel Group but also her work as the founder of the Travel Industry Mentor Experience (TIME),” he said.

“Carl brings tremendous depth of experience as former managing director of HRG Australia (previously Business Travel International) and a past director and chairman of AFTA”


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