Travel Counsellors slashed its losses by more than half during its latest financial year after its revenue surged by almost £300m.
The Manchester-headquartered company has posted pre-tax losses of £26.1m for the 12 months to October 31, 2022, compared to £56.1m in the prior year.
Its revenue also jumped from £68.1m to £347.8m thanks to the lifting of Covid-19 restrictions. Its total transaction value (TTV) also increased from £174.6m to £719.4m.
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In its latest full year before the pandemic, the company's revenue totalled £309.7m while it made pre-tax losses of £23.4m.
Travel Counsellors is backed by Vitruvian Partners and is a technology platform for travel entrepreneurs.
Chief executive Steve Byrne said: "FY22 was a record year for Travel Counsellors as we delivered significant growth across the business against both the prior year and pre-pandemic levels.
"This outstanding momentum has continued into the first six months of the current financial year, as we have delivered consistently record-breaking months.
"Our strong results once again demonstrate the strength of our differentiated, disruptive business model as well as growing customer demand for our trusted and personal travel advice.
"We went into the pandemic with outstanding levels of customer engagement and satisfaction.
"Whilst the pandemic significantly disrupted our customers’ ability to travel, we were resolutely committed to maintaining close relationships with them and protecting our brand’s hard-earned reputation.
"I am delighted we have maintained our five-star Trustpilot rating despite the significant levels of disruption and uncertainty facing our customers during this period.
"This is testament to the relentless hard work, commitment and care shown by our Travel Counsellor business owners, who are dedicated to putting their customers first and ensuring they are there for them for every step of their journey.
"Equally our employed colleagues who work so hard to support our franchisee community and ensure they continue to build thriving businesses using our personal, digital platform of support which combines the very best of people and technology.
"I’d also like to thank all our customers across both our leisure and corporate businesses who continue to place value in the trusted and caring service provided by their Travel Counsellor.
"I am extremely confident that we are exceptionally well placed to further build on our significant growth over the coming years.
"We are focused on continuing to disrupt the travel market through superb, personalised service and our scalable, relevant and differentiated business model.
"We are accelerating rapidly towards being a £1bn+ transaction platform in the near future and look forward to serving more customers and helping more travel entrepreneurs to grow their businesses in the years ahead."
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