Momondo Group posts 64% year-on-year export revenue growth

Momondo Group posts 64% year-on-year export revenue growth

Momondo Group claims to have defied post-Brexit pessimism by recording a 64% year-on-year rise in export revenue in the last quarter.

This accounted for 92% of the entire revenue for the parent company global travel search brands momondo and Cheapflights.

The group’s biggest export markets during the third quarter of the year were the US at 26% of total revenue and the Nordics at 36%.

A focus on new markets drove claimed growth of 400% across Spain, France, Italy, Austria and Switzerland.

No specific financial details were released by the company.

However, the international focus and performance has seen it shortlisted in the Amazon Growing Business Awards, created by Real Business, in the Export Champion of the Year category.

Chief executive Hugo Burge said: “Our rapid – and accelerating – international growth can be traced directly to our focus on building products users love,

“Pessimistic post-Brexit speculation continues to circle the travel industry, but embracing exports and capitalising on the weaker pound has enabled us to drive an impressive 64% year-on-year growth and secure over a million visits to its sites each day worldwide.”

“This strong performance demonstrates the value of British born businesses continuing to pursue international opportunities.

“It’s an amazing time to be in online travel, with global growth and a new mobile audience creating rapid adoption and openness to new brands.

“We are showing extraordinary progress and believe this is just the beginning of a very exciting opportunity.”

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