TTV up 60% to $694 million, cash burn of $2 million per month.
Helloworld Travel Limited has just released its financial results for the six months to 31 December 2021, with a net loss before tax of $19.6 million.
That was an improvement of $1.9 million on the previous corresponding period, reflecting a significant cut in employee expenses due to a reduced labour force, offset by a reduction in government wage subsidies and an increase in operating expenses.
TTV improved more than 60% to $694 million and revenue grew to $40.3 million, driven by the progressive release of border controls between October and December, but the company noted heavy impacts to consumer confidence due to snap domestic lockdowns.
More details in today’s issue of Travel Daily.