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*Home > Group Information > Investor Relations > Financial Results > Results 2001 >  Report and Accounts > Retail Direct
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Group Information

Retail Direct

We increased our contribution by 48 per cent to £551 million.
Norman McLuskie Executive Director and Chief Executive, Retail Direct

Image: Mark Robinson, Festival Cruises and Lee Merryweather (Relationship Manager)

Above: Mark Robinson, Festival Cruises and Lee Merryweather (Relationship Manager)

When Festival Cruises, one of the worlds fastest growing cruise lines was looking to offer a unique multi-currency ATM service on one of its ships, it made Streamline International, part of Retail Direct, its first port of call.

  • Retail Direct now has over 14 million customer accounts, an increase of 2.5 million over the year.

  • New personal credit card accounts increased by nearly 1.5 million during the year.

  • The success of Tesco Personal Finance (TPF) continues with over 1 million new accounts and policies in the year and the number of customer accounts now standing at 2.6 million.

  • TPF now has almost 400,000 motor insurance policies.

  • Direct Line Financial Services was voted Best Direct Lender for Mortgages over 5 years by What Mortgage Magazine.

  • The Comfort Card retail point-of-sale businesses, operating in Austria, Belgium, the Netherlands, Germany and Luxembourg, now have 1.8 million customers. Comfort Card balances are up by 15% on last year to over e900 million.

  • Virgin One is now a wholly owned business and continues to grow profitably. Customer balances were approaching £3.7 billion at the year end, up 54% on 2000.

  • The Virgin One team won the Unisys Excellence in Customer Service Award and the Guardian Best Mortgage and Best Current Account Awards.

  • Streamline, our merchant acquiring business, achieved record volumes in 2001 with 1.8 billion transactions in the year.

  • ATMs have been installed on one of Festival Cruises’ ships. These ATMs provide foreign currency for customers, which is charged to their shipboard accounts and subsequently paid for by credit card. This multi-currency service is a first in the industry.
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