ABERDEEN-based Munro's Travel has heralded a record financial year after turnover surged by 34% to almost £70 million in the year to the end of October.

The long-established firm, which provides travel solutions to the oil and gas industry, has attributed the stellar performance to new business wins and a rise in spend from existing clients.

Munro's declined to give a profit figure but revealed the expansion of its operations is expected to see it recruit 20 new staff in the year ahead.

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It plans to take on eight graduates who will each attend one of series of in-house travel academies the firm is hosting in 2014.

The firm started the 12-week programmes five years ago in response to a shortage of experienced business travel consultants in the Granite City.

Munro's, which derives 95% of its business from the energy sector, currently employs 120 staff at its premises on Union Street.

Managing partner Murray Burnett said: "We had a very satisfactory year. We've won contracts with new customers, while existing clients have also been awarding more business to us."

Munro's travel services include booking flights and accommodation to assisting with visa applications.

Mr Burnett said the firm had benefited by being part of the American Express Travel Network, noting that it allows the firm to offer the perks associated with a "prestigious" and world-renowned brand while retaining its independence.

And he said the company's current year had begun well due to the continuing buoyancy of the oil and gas sector in the North Sea. It is preparing travel packages for about 400 delegates to attend the Offshore Technology Conference (OTC) in Houston, Texas, in May.