AIRLINE and travel industry merchandiser Watermark has delivered compound operating profit growth of more than 30% over the past eight years.
Since the disposal of its events division, it is focused on serving international travel clients with revenues generated worldwide, therefore, ending its reliance on the UK.
An increase in overseas business came last year when the group took on the management of two BAA businesses and increased the number of airlines with which Watermark trades from 40 to over 70. The contracts it has are mainly long term in an industry recognised as a growth market, particularly in the long-haul segment.
Watermark has an 11.4% stake in a business called FlightStore. This was put together to sell branded goods to passengers via consoles in the backs of seats. The group is run by John Caulcutt, a former stockbroker who has other successful ventures behind him. The shares have staged a recovery since April, rising nearly 40% to 92p. In the year to December 2000, sales leapt more than 40% …