Travelsupermarket.com blames poor market conditions for revenue fall

Travelsupermarket.com blames poor market conditions for revenue fall

Poor market conditions and lower visitor numbers were blamed for a fall in first half revenues at Travelsupermarket.com.

Revenue dropped by 19% to £11.1 million from £13.7 million in the first six months of last year.

“As first highlighted in March, challenges in the holiday market remain and remedial work is likely to continue through 2016,” the company said.

“Work is underway to improve the customer journey and the app has been launched delivering an improved customer service on a mobile.”

The deterioration in business for the travel comparison business was disclosed in half year figures from owner Moneysupermarket.com.

The parent company saw a 6% rise in adjusted operating profit to £53.8 million in the six months to June 30 as overall revenue rose by 10% to £157.6 million.

Moneysupermarket.com announced that group chief executive Peter Plumb is to step down by May 2017 after eight years.

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