Holiday Taxis has predicted it will finish the financial year with a new record having doubled its profits from last year.
Managing director Peter Hilton predicted the firm will file its results on December 31 with a 100% increase in profits on 2009, having increased volumes by 33% and reduced overheads by 20%, leading to a 15% increase in net margins.
He said: “Earlier this summer our pricing strategy became more aggressive and a whole lot more competitive, for the benefit of our trade partners, than previously before.
“Without forsaking any of the quality of service and product delivery that our business has become renowned for in the transfers sector, we will continue our drive for new partnership volumes, hence forcing unit pricing down further as our scale and penetration across multiple European source markets goes from strength to strength.
“With all the challenges that our, and every other business in the Industry, has had to face this year, I truly believe that the customer service ethos that we have in our business has meant more travel businesses placing their trust and transfer volumes in Holiday Taxis, especially where our mutual end customers have needed that customer service and in-resort assistance this year.
“Yes, of course our aggressive new pricing policy makes a difference, but the brand and service ‘comfort blanket’ that our service effectively gives to the end customer will remain a cornerstone of our offering moving forwards.”
Hilton was already bullish in August, when he predicted Holiday Taxis would double its £20 million turnover within three years.
He added the company intended to dominate the UK market by growing volumes and muscling out smaller players not able to compete on price or quality.
The company has also been able to operate large amounts of bulk business having signed exclusive deals with Tui Travel, The Co-operative Travel and Thomas Cook and airlines including Monarch and easyJet.
To further strengthen trade relations, the transfer company has appointed Jodie Scullion, who joins from Affordable Car Hire, and Russell Knight, from Qantas Airways, as business development managers who will report to sales and marketing director Ian Coyle.
Coyle said: “Both come very highly recommended by our trade partners and on behalf of the rest of the Holiday Taxis’ team, we very much look forward to working with them.”