Price comparison website operator Moneysupermarket said on Thursday that it has combined its TravelSupermarket brand and Icelolly.com 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 Icelolly.com 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 Icelolly.com 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.
