Trailfinders has blamed the pound’s fall against other currencies for its operating loss of £5.3 million this year.
Managing director Tony Russell said the loss came from a turnover of £530.5 million generated by the company’s 23 travel centres in the UK for the year ending February 28.
He added that, without the currency issues, which were compounded by the ongoing recession and the threat of terrorism, the company would have made an operating profit of £1.9 million.
Russell is confident the company will soon return to profit, adding: “We can pursue the best strategy [for the company] over a number of years, rather than for a particular period.”
Meanwhile, the director’s report also notes the £35.6 million charge of Trailfinders held by Barclays Bank against cash deposits has been dropped to £6.9 million, following the move by the Civil Aviation Authority to replace the ATOL bonding system with the Air Travel Trust Fund as the primary source of consumer protection.