Travelzest has reported £1.7 million in profits for the six months to April 2007.
This marks a significant recovery from the same period in the previous year, when Travelzest lost £1.3 million.
The online travel group’s total transaction value realised a similar level of improvement, jumping from £9.1 million to £86.3 million, an increase of 849 per cent.
The majority of Travelzest’s transactional growth is owed to the company’s travel agency operations, which accounted for £82 million, up from £6.1 million.
Travelzest’s total turnover for the first half of the year grew from £3.7 million in 2006 to £13.5 million, with travel agency operations responsible for the bulk of revenues.
Company executives cited the success of group’s Canadian online retail business, itravel2000 and strong performance from UK winter tour operator businesses as among the main reasons for its strong performance.
Itravel2000 grew its sales by 17 per cent in the six months to April 2007, compared with the same period the previous year, while Best of Morocco produced a 30 per cent year-on-year growth.
The successful launch of Flight.co.uk, continued investment in Holiday.co.uk, and the December 2006 acquisitions of Tapestry Travel Ltd and Wow House Ltd were cited as further reasons for the financial improvement.