Leading online travel agent Opodo has revealed record profits over the past year, on the strength of its flight booking services.
Double digit sales growth was achieved over 2007, as Opodo consolidated its strong position in the online travel market by handling as many as three million European travellers.
The firm’s 2007 strategy saw it deepen its focus on the online flight and travel bookings business, allowing for the sale of ancillary holdings such as French tour operator Karavel to Barclays Private Equity last summer.
Ignacio Martos, chief executive of Opodo, said: "In uncertain economic times consumers are ever more careful with their money and this is where Opodo can make a real difference, providing a full travel service with the advantage of competitive pricing. We are satisfied with the results and delighted to be reporting profit at EBITDA level as well as net profits. This sound and consistent performance is due to the strong team that I inherited when I joined Opodo."
He added that a solid base for progress had been created by last year’s well executed focus on core business and drive to simplify the company’s management structure through decentralisation.