Turnover for travel publisher Lonely Planet grew 6.7% to £17.2m in 2015, while profit before tax increased by 63% on the previous year in a "strong" performance for the company.
The travel publisher has filed its results for the year ended 31st December 2015, revealing that turnover has increased by 6.7% to £17.2m up from £16.1m in the previous year and operating profit before tax grew 63% from £391,000 in 2014 to £841,000 in 2015.
Theodore Sathananthan, director and chief financial officer, identified the "fragile" economies in its European markets as being a high risk area for the group. He said: "A number of our distributors and key retailers have struggled over the last year, although there are signs that their order levels are rising and that optimism is growing."
He added that consumer debt levels and unemployment remain high in certain markets, which has led to demand being lower than expected. "Nonetheless, we are seeing a growing appetite to travel, which has an impact on our performance within Europe", he said. "We continue to work with all our distributors to ensure that suitable levels of supply and terms support their business and our customers in their territories. Furthermore, by offering innovative products at different price points and formats we can remain relevant to a large audience and a price that suits their needs.”
Sathananthan added: "The company continues to focus on the needs of our core customers across any different territories and cultures and the board is confident that this strategy will continue to deliver results that meet our shareholders’ expectations in the years to come."