Travelsupermarket reports good first quarter despite ‘headwinds’

Travelsupermarket reports good first quarter despite ‘headwinds’

Travelsupermarket revenues were 41% ahead in the first quarter of the 2014 on visitor volumes that increased by 19%.

Trading in package holidays, car hire and hotels continued to improve, supported by improvements to the products offered together with increased offline media spend, parent company Moneysupermarket.com reported ahead of the price comparison company’s annual general meeting today.

Offline marketing costs were in the region of 20% ahead of the same period last year supporting new Moneysupermarket and Travelsupermarket advertising campaigns.

The group said its financial performance in the first quarter was in line with expectations.

Group revenues and EBITDA for the first quarter were 8% and 5% ahead of the same period last year respectively.

Chief executive Peter Plumb said: “Helped by our increasingly diversified business, this was a good first quarter given the headwinds we’ve faced since last year.

“Our investment programme is on track, including the delivery later this year of the best shopping experience for insurance customers, on mobile or desktop. The investment we are making in technology for the Money business is beginning to work well.

“I look forward to making it even easier for our customers to save more money, thanks to the £14 million we’re spending on our capital investment programme this year.”

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