Moneysupermarket travel arm sees annual revenue rise by a third

The travel arm of Moneysupermarket Group saw 2023 revenue rise by a third year-on-year to £20.6 million.

Revenue from travel was up 9% to £3.9 million in the fourth quarter to December 31, with growth “slowing in a competitive market”.

Annual earnings from the travel division came in at £5.4 million as part of a total net profit of £72.3 million against £69.3 million in 2022.   

The price comparison company said: “We delivered strong growth in travel with revenue up 33%, with particularly strong growth in the first half. There was continued strong demand for package holidays.

“During the year, we invested in a new TV advert for TravelSupermarket, the first in seven years. We also invested in upgrading the tech platform.”

The company’s Ice Travel Group (ITG) combines TravelSupermarket and 

TravelSupermarket is now using proprietary bidding technology that allows providers to bid for more prominent placings on the website. 

“Thanks to this improved offer and the combined reach of the two brands, ITG enjoyed strong growth during the year,” the company said.

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