Scotland business

Skyscanner reports sharp rise in turnover and profits

Skyscanner logo

Online travel search firm Skyscanner saw turnover and profits take off last year, according to its annual accounts.

The Edinburgh-based firm said revenues climbed from £158.3m in 2016 to £214.2m, while pre-tax profits were up by about £7m, at just over £24m.

Skyscanner reported that flight metasearch continued to be its largest revenue channel last year.

However, turnover from hotel, car hire and advertising products contributed 20% of revenue - up from 17% in 2016.

The company was set up to let users compare prices from different travel sites when searching for flights, hotels and rental cars.

In accounts filed with Companies House, Skyscanner said: "The company's long-term strategy is centred on owning a greater part of the travel journey from destination selection through to post-travel engagement, and our vision is to become the single travel app for all your needs.

"We have made strides in achieving this objective in 2017, as is evidenced in the growth of some of our key operating metrics."

Skyscanner was bought in 2016 by China's biggest online travel firm, Ctrip, in a deal which valued Skyscanner at about £1.4bn.

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