Hays Travel has released its annual accounts, which show that the group’s turnover more than doubled to £2.19 billion in its last financial year.
Group profits for the 12 months to the end of April 2023 were up 259% to £51.6 million.
The company said it achieved its strongest ever trading year in 2022/23 due to ‘a readiness for travel after lockdown, key destinations opening at the peak holiday booking time, and customers seeking the reassurance and expertise of a travel agent’.
Some 41% of those booking holidays last year were new to both Hays Travel and the Thomas Cook shops that Hays Travel acquired in 2019, it said. The company now owns 470 retail branches and expanding homeworking and franchise divisions.
Owner and Chair Dame Irene Hays said: “Our 2022-23 results show good growth in all areas of the business. A significant factor in this was the speed with which consumer confidence returned post-pandemic.”
She added: “After the uncertainty and challenges of recent years, it’s been reassuring to see more confidence and stability in travel in 2022/23.”