Travel comparison site defies EU uncertainty with revenue rise

REVENUES have risen at holiday price comparison website icelolly.com despite the uncertainty surrounding Brexit and terrorist incidents in France, Belgium and Germany.

For the first half of 2016, the Leeds-based business reported revenue of £5.3m compared to £4.6m in the corresponding period last year.
 
The company said the results buck the trend seen in the travel industry in recent months, with the administration of cheap holidays provider Lowcostholidays.com, as well as revenues at Thomas Cook falling 8%.
 
Icelolly.com employs more than 50 staff, handles more than 130 million holiday offers a day from some of the UK’s top travel companies, with more than 20 million visitors to its site every year.
 
The company, which is backed by Palatine Private Equity, has made a six-figure investment in TV advertising over the period. It said this has seen website traffic increase and helped to position the brand as one of the leading holiday price comparison sites in the UK.
 
Andrew Latham, chief executive, said: “We are delighted with these very positive results that have been driven through the repositioning, investment and focus on our brand, product and our powerful comparison message. These results are particularly pleasing when set against the recent terrorist atrocities, uncertainty post the Brexit decision and other macro-economic and geopolitical challenges.  
 
“July trading volumes have been weaker and we’re now seeing limited hotel capacity in the western Mediterranean. However, more astute travel agents are exploiting the additional flight capacity that exists to find deals for customers willing to be flexible and shop around. We are also seeing strong demand for Greece, Bulgaria and Croatia as customers seek alternative beach destinations. We are continuing to work closely with our travel agent partner advertisers to deliver the best value and range of fantastic holidays offers.”