Ticketing growth lifts Helloworld, despite airfare discounts.
Helloworld Travel has increased its total transaction value (TTV) to almost $3 billion in the first half of the financial year, boosted by increased ticketing volume.
In its half-year results released this morning, Helloworld said its TTV was up 2.7% on the same period last year to $2.968 billion.
Earnings (EBITDA) were up 18.2% to $35.5 million in the six months to 31 Dec, while the company’s pre-tax profit was up 39.2% to $26 million.
Although ticketing volumes had grown, Helloworld said this was partially offset by lower airfare prices caused by discounting in Australia and New Zealand.
Revenue was $164.9 million, down 3.7%, which the company said was mainly because the prior corresponding period included revenue from the disposed air representation business, disposed company-owned stores and the restructured Insider Journeys business.
The Helloworld Travel retail network grew by 50 during the six months to total 2,065 members across Australia and New Zealand, while the company says its planned acquisition of the Magellan Travel Group is due to be completed by the end of Feb.
An interim dividend of 7c per share was declared, an increase of 16.7% on the prior corresponding period.
See today’s Travel Daily for full details.