The consortium, which has 150 members, reported a pre-tax profit of £4.1 million for the year to the end of September 2015, according to accounts recently released at Companies House.

Turnover rose from £3.2 million to £5.9 million, which the company said was down to an “overall increase in net margin from suppliers”.

The company’s revenue represents the amount of commission received net of the amount passed on to its independent travel agent members.

The Freedom Travel Group Ltd is controlled by Future Travel Ltd, in which industry veteran David Elstob has a small stake.

Homeworking agency Co-operative Personal Travel Advisors (Copta) is a trading name of Future Travel. In its most recent financial year it made a pre-tax profit of £534,000 – up from £215,000 in the previous financial year.

Freedom and Copta were both almost sold by Thomas Cook in 2014.

There had been speculation that another consortium was looking to snap up the pair but no buyer ever emerged.

Cook eventually recommitted to the business and set out on a two-year growth plan, which appears to be bearing fruit.

Kelly Cookes, head of Freedom Travel and Co-operative Personal Travel Advisors said: "We’re really pleased with this year’s improved financial performance and our strong position.

"This is down to a lot of hard work and commitment within the team, as well as other factors including our continued focus on attracting new members and improved commercials  we’ve been able to leverage as part of a larger organisation."