Helloworld reports $1 million loss for 1H FY2016Helloworld Limited has just revealed a 409% increase in losses for the first half of the 2016 financial year compared to the corresponding period in FY15, but remains confident in a turnaround under new leadership, despite "challenging market conditions" which are expected to continue.The travel company this morning reported a loss before tax of $1.0 million, down further from the $0.2 million loss the year prior.Total Transaction Value during 1H increased 5.4% to $2.4 billion, with revenue flat at $139 million (-0.4%).CEO and managing director Andrew Burnes said Helloworld will "continue to evolve, grow and generate returns for shareholders, for our agents and for our stakeholders".The period included the successful merger with the AOT Group, which Burnes owns with wife Cinzia Burnes.
The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 24 Feb 16
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