OTA “outperforms market by a factor of four”.
Webjet has delivered strong financial growth for the six months to 31 Dec 2017, with Total Transaction Value (TTV) of $1.443 billion – up 55%.
The company posted a total revenue of $359.8 million (up 290%) and a net profit after tax result of $20 million (up 25%).
The primary drivers of the financial gains were attributed to the continued good performance of its core OTA business and the rapid growth of WebBeds, the company’s specialist B2B accommodation provider.
Webjet says its OTA business outperformed the market by a factor of four during the six-month period, with increases in sales and higher margin gains for ancillary products contributing most heavily to the result.
Revenue posted for the business came in at $66.3 million (up 32%) with bookings growing to 754,000 (up 12.3%).
“The Webjet OTA continues to outperform the market and ongoing investment in our technology platform is driving improved visitations and conversions,” Webjet’s md John Guscic said.
WebBeds is currently the “fastest growing B2B player in the world” according to Webjet’s results, significantly outperforming market growth rates in all regions and continuing to trend upwards in line with the latest projections.
WebBeds recorded a revenue of $49.4 million, a whopping 170.5% increase on the same period the previous year.
Webjet expects 2H18 to be even stronger than the 1H18 results according to current forecasts.
More details see today’s Travel Daily.