Online travel agent, Travelzest, which owns the UK’s biggest naturist tour operator, has posted profits for the first time. Profits were boosted by Itravel2000.com, the Canadian online travel agency it bought last October.They beat expectations with underlying profits of £1.7 million in the six months to 30 April. This compares with a £1.3 million in losses last year.
Travelzest bought the Canadian firm for £24.5 million for to help deliver all-year-round profitability, as winter is the peak period for holidaymakers in Canada. It helped that Itravel2000.com delivered a 17 percent increase in sales over the winter.
Travelzest, which also rents out prestigious homes for holiday breaks, bought naturist operator Peng Travel last year.
Commenting on the results, Chris Mottershead, Travelzest’s Chief Executive, said:
“When the Travelzest concept was launched we set out to create a travel company which generated profits throughout the year. I am very pleased to report that we have managed to achieve a profit in the first six months in only our second year. This result is particularly pleasing as it represents an underlying year on year first six month profit improvement of £3 million.
“Our winter biased businesses delivered excellent performances with itravel2000.com increasing sales by 17% over the same period in the previous year, and Best of Morocco by 30% year on year. This demonstrates our ability to make significant improvements to the businesses we acquire. We have also launched Flight.co.uk and Wow House, and relaunched The Tapestry Collection, all of which have made a good start. In addition we continue to develop Holiday.co.uk.”