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12 Aug 2021 | 08:13

Moneysupermarket merges TravelSupermarket and Icelolly units

(Sharecast News) - Price comparison website operator Moneysupermarket said on Thursday that it has combined its TravelSupermarket brand and to create the Ice Travel Group. Moneysupermarket stated that with the final condition for completion of the combination being met, completion of the merger was now expected to take place in early September.

In 2019, TravelSupermarket and generated a combined £30.0m in revenue and just shy of £10.0m in underlying earnings.

However, given "the current state of the travel market", Moneysupermarket expects to incur underlying losses to the end of 2021 but also anticipates this will be "broadly offset" by in-year synergies.

As of 0840 BST, Moneysupermarket shares were up 0.67% at 257.70p.
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