TRAVEL BUG SPIKES WEBJET'S BOTTOM LINE

TRAVEL BUG SPIKES WEBJET'S BOTTOM LINE

WE'VE all got the travel bug if Webjet's (ASX: WEB) sky-high half year result is any indication. 

As at the end of January 2016, the Melbourne-based online travel agency has seen 21 consecutive months of record TTV growth.

Webjet's revenue was up 26.8 per cent to $73.8 million and net profit after tax up 17.2 per cent to $10.7 million.

Webjet's managing director John Guscic says both wholesale and retail businesses welcomed significant market share growth in the period.

"We continue to see an acceleration of bookings shifting online in our B2C division and our planned investment growth strategy for the B2B division is currently underway and already delivering tangible results," says Guscic.

"We are seeing a continuation of these trends in the first part of 2H16, further propelling growth at a record TTV level."

In a statement to the market today, the company announced its bookings continue to outperform the market by more than five-fold, with domestic up 14 per cent and international up 24 per cent.

Webjet's business-to-business division, which offers hotels to travel agents through Lots of Hotels and SunHotels brands, is expected to double to around $11 million in the 2016-17 financial year.

The company will pay shareholders an interim dividend of 6.5c per share, up from 6.25c per share last year.


Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Golden handshakes to departing ASX100 CEOs hit 12-year high

Golden handshakes to departing ASX100 CEOs hit 12-year high

Around one in every six CEOs of ASX100 companies left their job&nbs...

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

The revolving door of leadership at Maggie Beer Holdings (ASX: MBH)...

Dreamworld owner reports improved ticket sales despite severe peak season storms

Dreamworld owner reports improved ticket sales despite severe peak season storms

The owner of Gold Coast theme parks Dreamworld and WhiteWater World...

PMFresh bags embattled salad manufacturer HS Fresh Food from administration

PMFresh bags embattled salad manufacturer HS Fresh Food from administration

Tasmania-headquartered grower and ready-made salad manufacturer&nbs...