Scottish unicorn Skyscanner has seen its profits take off, as they climb to nearly £100m as travel restrictions enforced during the pandemic ease.

The travel search company, based in Edinburgh, reported £95.2m in profit before tax in 2023, soaring from £31.5m in 2022.

During the same period, Skyscanner’s revenue also increased to £349.4m from £283.8m during the same period, according to accounts filed with Companies House.

This shows the company is well beyond its post-Covid recovery, as its current revenue exceeds pre-pandemic figures.

In 2019, the year before the pandemic dramatically changed the travel industry, Skyscanner’s turnover reached £311.3m, with a pre-tax profit of £48.6m.

Further, the number of sessions on its site increased by a third, reaching 2.9bn, with 110m using the platform each month.

With this, revenue generated from flight commissions rose from £223.1m to £271.2m, with hotel commission revenue increasing from £6.9m to £9.7m.

Car hire commission grew from £8.6m to £11.5m , while advertising and partner analytics saw a revenue jump from £45m to £56.9m.

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The company’s net assets soared by 129% compared to 2022, with an increase in cash from £1.9m to £45.9m due to better trading conditions for the company.

2023 saw Skyscanner increase its headcount from 823 to 967.

“The company’s business and financial results improved as the remaining markets to improve travel restrictions related to the Covid-19 pandemic reopened their borders in the first half of 2023,” a statement from the company’s board read.

“The lifting of global travel restrictions led to a strong recovery in traveller numbers and in the resulting revenue generated by the company.

“This revenue growth has been sustained as travel returns to pre-pandemic levels and travel booking patterns broadly return to their seasonal trends.”

The Scottish unicorn – a tech company valued at over £1bn – was founded in 2004, and is now part of the Trip.com Group.