MOMONDO GROUP FORECASTS CONTINUED ACCELERATING GROWTHFOLLOWING STRONG Q1 PERFORMANCE
We are delighted that our member,Momondo Group (MMG), parent company of pioneering global travel search and inspiration brands Momondo and Cheapflights, has posted strong first quarter 2016 results, and reforecast its year-end targets based on continued acceleration of revenue growth. .
Highlights to note include:
The latest results coincide with Hugo Burge’s fifth anniversary as MMG CEO and a multi-year strategy to transition to metasearch – with Group revenues climbing by close to 150% since he assumed the role following the acquisition of Momondo by Cheapflights in 2011. That growth has been fuelled by the rapid expansion of Momondo Group internationally – 89% of Group revenue is now generated from outside of the UK, rising from 84% in 2015.
“Our first quarter results for 2016 have caused us to be even more bullish about the year ahead. They cement our position as a leader in global travel metasearch,” says Hugo Burge, CEO, Momondo Group. “The commitment of both the Momondo and Cheapflights teams to build products users love underpins this strong revenue growth and market share gain.”
We want to congratulate Hugo and the Momondo team on this brilliant success!