Flight Centre acquires Topdeck Travel
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Flight Centre Travel Group has acquired tour operator Topdeck Travel as it reported a record profit for the first half of the year.
The Australian-based travel agency firm will buy a 90% stake in UK-based Topdeck at a minimum of GBP21.84 million with current managing director James Nathan to hold the remaining 10% and oversee the business.
Flight Centre’s managing director Graham Turner co-founded Topdeck to offer holidays to those aged between 18 and 30.
He said Flight Centre is looking for further acquisitions in the youth travel sector.
“We are very interested in building a global youth business. We would like to get into other areas [besides tours] that 18- to 25-year-olds like to participate in,” he said.
The acquisition was announced as the group reported a 10% increase in underlying profit before tax to a record AU$376.5 million or the first half of the year. It is targeting a 5-8% increase underlying profit of AU$395m-405m in its full year.
Comments are closed.