Webjet profit up by 24%.
Online agency Webjet has just released its full year results, with net profit after tax up 24% to $13.6 million for the 12 months to 30 Jun.
MD John Guscic described the outcome as a “substantial profit acceleration,” saying he was particularly pleased at the growth in a “generally flat travel market”.
TTV grew 30% to $768 million, meaning the business substantially outstripped the general travel market, while the company’s US offshoot saw a 47% increase in TTV and achieved profitability over the last six months.
Pretax profit was up 25% to $19.3 million for the year, and Webjet will pay a further 7c per share fully franked dividend, bringing the total for the year to 13c per share.
Guscic said the company’s full hotel aggregation model had now achieved an “approximate annual run rate of $42 million” which was a 68% increase on the figure for the first six months of the financial year.
More information in today’s Travel Daily.