travelsupermarket.com revenue grows by 101%

Price comparison website Moneysupermarket.com Group's travel vertical posted 101% growth in revenue as the company shared its preliminary results for the period ended 31 December 2007.

Published: 27 Feb 2008

Price comparison website Moneysupermarket.com Group's travel vertical posted 101% growth in revenue as the company shared its preliminary results for the period ended 31 December 2007.

Referring to travelsupermarket.com, the group stated that its revenues in the travel vertical grew by 101% from £7.5m to £15.0m and transaction revenue by 92% from £6.8m to £13.1m. Visitors have grown by 87% over the period and each of RPT and RPV has increased by 8%.

A release stated: "Car hire and hotels now account for a greater proportion of revenues in 2007 than 2006. There has also been some benefit with the widening of the product portfolio late in 2006 which saw the launch of airport parking and a Top Deals promotion where consumers are periodically sent details of some of the best deals found on the website. The existing product set has been further developed in 2007 to include flight sectors with B&B's being added to the hotels offering. The increased product set and content has increased page impressions and has enabled the group to generate greater advertising revenues which are shown within other revenues."

Its CEO Simon Nixon said the company will continue to drive business through a combination of building on already strong brand awareness, and to continue to drive innovation through product ranges and improvements in the experience of its customers.

"We have made a strong start to the current financial year in each of our verticals with all trading considerably ahead of the same period last year. Whilst we have not been immune to the effects of the credit crunch and have seen some slow down in growth in our loans business, overall the Money vertical has made a very positive start to the New Year. We remain very confident in our business model and the benefit it brings to consumers and providers."

The Company was formed as a new holding company on 14 March 2007 and it acquired Moneysupermarket.com Financial Group Limited and its subsidiaries (together the "Group") on 22 June 2007. Accordingly, the Group is presenting consolidated results for the period from 22 June 2007 to 31 December 2007. Revenues in the period were £88.3m.

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