The Australian retail travel group has more than doubled its pre-tax operating results for the year ending June this year, with a profit of up to $1.18 million compared to the corresponding year 2010.

Reporting a 62 percent increase for the year, the Group contributed the rise to its focus on supporting strategic suppliers and vowed to return 95 percent of its profits to its shareholders.

The company said its stakeholders will receive redistribution in the form of 30 cents per share.

Despite welcomed a $340,000 surplus over profits recorded during the fiscal year 2009/10, the company’s managing director Gary Allomes said the industry remains challenging.

“This year’s result is therefore very pleasing because it is underpinned by our members’ disciplined approach to selling our expanded range of preferred suppliers,” Mr Allomes said.  

“Given their efforts it is only appropriate that Travellers Choice members now receive the maximum possible benefit from the profit result.”